any one been to china?

[Wayne]

Now you guys will understand why the Chinese want to come to NZ.

because they have wrecked their country and want a new one?

[PTILoveYou]

because they have wrecked their country and want a new one?

Well China has gone through a modern day 'Industrial Revolution' in the past 10-20 years, so I can understand why some want out.

I think your statement will apply well to South Africa too. The stories I have heard from South African colleagues aren't very nice regarding the crime.

[jimO]

did you know that chinese people cannot buy land in china only lease it

[Wayne]

They don't buy apartments either it seems.
A friend 'brought' an apartment on a 50yr lease.
I asked her what happens after 50 years and she didn't know - no one has got that far yet!

[drelly]

I wonder what has happened to all the empty apartments that they built? I remember seeing a video a couple of years ago saying they had literally millions of them.

[Wayne]

They have almost cities empty - they just buy and wait for the price to go up.
Absolute speculation.
"1 in 5 homes empty"

http://online.wsj.com/articles/more-than-1-in-5-homes-in-chinese-cities-are-empty-survey-says-1402484499

[PTILoveYou]

did you know that chinese people cannot buy land in china only lease it

Yeah, all residential/commercial property are leasehold with a 70 year lease period. The land price paid to local government at government auction is for the 70 year use rights.

There is no freehold land in China.

[Davo36]

There is no freehold land in China.

Yet man, yet.

I reckon so many people 'owning' property in China will surely lead to actual freehold titles being issued at some point in the future.

Otherwise what will happen? They'll simply have to hand the property back? Or take out a new lease at some exorbitant price?

[Bob Kane]

They don't buy apartments either it seems.
A friend 'brought' an apartment on a 50yr lease.
I asked her what happens after 50 years and she didn't know - no one has got that far yet!

In 50 years that apartment building will be worthless so you just 'walk away'.

[jimO]

I wonder what has happened to all the empty apartments that they built? I remember seeing a video a couple of years ago saying they had literally millions of them.

there are still thousands being built. every city has hundreds under construction, tower cranes everywhere

[PTILoveYou]

Yet man, yet.

I reckon so many people 'owning' property in China will surely lead to actual freehold titles being issued at some point in the future.

Otherwise what will happen? They'll simply have to hand the property back? Or take out a new lease at some exorbitant price?

People who have the guns and tanks... mostly tanks, get to say who owns who ;-)

Real estate in spanish means crown's estate.

[PTILoveYou]

there are still thousands being built. every city has hundreds under construction, tower cranes everywhere

China is the worlds biggest producer of steel and cement.

If other countries don't buy enough, the rest have to go somewhere...

[Wayne]

China is the worlds biggest producer of steel and cement.

If other countries don't buy enough, the rest have to go somewhere...

We'll just park those raw materials over here in this building that we won't use.
Sensible?

[PTILoveYou]

We'll just park those raw materials over here in this building that we won't use.
Sensible?

Well... steel rust, concrete can go off with humidity... and last but not least, vandalism and theft...

[Wayne]

Well... steel rust, concrete can go off with humidity... and last but not least, vandalism and theft...

Exactly - an economy built on waste.
Lots of output (building) doing nothing.