China's real estate market may collapse soon





17.12.2010 18:12
Measures the country`s authorities to ostuzheniyu real estate market is extremely inefficient. This is the opinion founder of a major U.S. investment firm Kynikos Associates Jim milkfish. However, this view is already recognized as "too harsh".

According to him, in November 2010, property prices in 70 Chinese cities rose by 7.7% compared with November 2009. Undertaken by the Government measures to cool the market did not help contain prices. Market failure is possible in late 2010, says Mr. milkfish.

"Millions of apartments stand empty, while market speculators are working" - said Jim milkfish in an interview with Bloomberg.

The expert also notes that Chinese companies have attracted more and more funds from foreign investors. Milkfish not rule out that eventually the Chinese real estate market may be in the hands of foreign investors, despite the fact that the Chinese authorities have imposed restrictions for foreigners to buy homes.

Not all experts agree with such a harsh statement milkfish. According to Glenn Rufrano, head of Cushman & Wakefield Inc, is "a little extreme forecast. He recalled that the increases in China and increasing economic performance and growing real estate market. The authorities know this and take appropriate action, said Glenn Rufrano.
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Content tags: Overseas property
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