China Property Investment For Sale | Guides, Economy and China Hotspots
"Global economic giant with huge cities and demand for property"
China is the world’s most populous country, the world’s second largest economy behind the United States and the world’s largest exporter. With huge urban conurbations with concentrated populations and considerable internal migration towards its enormous cities there is increasing strain and demand for accommodation countrywide.
For sometime now China has been gradually moving away from its strict communist regime to a more market-orientated international global player although in a highly state controlled fashion. This restructuring of the economy has resulted in more than tenfold increases in GDP since 1978, yet the per-capita income is still below the world average.
Although without doubt an international powerhouse to be watched, the Chinese do have a host of problems including low domestic demand, the world’s most rapidly aging population (thanks to its population control policies), sustaining adequate job growth for its enormous population, inequality, reducing corruption and containing the environmental damage its rapid growth has created including air pollution, soil erosion and the fall in the water table – especially in the North.
Since China’s expansion, house prices have soared as has the construction industry and many have invested heavily in second and even third homes. The government has reacted to try and control this over inflation by placing numerous restrictions of who can own what, especially in the second home market and as a result of public complaints has instigated a massive public housing programme to provide low-income homes.