China’s Housing Nightmare: 10,000x Worse Than Japan! Hangzhou ¥20K to ¥2K/m², Sales Agent in Tears
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The latest figures from China's National Bureau of Statistics show that property development investment totalled 3.8 trillion yuan (about US$533 billion) in the first half of this year, down 18% from a year earlier. Residential investment totalled 2.93 trillion yuan (about US$410 billion), down 17.8%. Developers had about 59.64 billion square feet (5.5 billion square meters) of floor space under construction, down 12.5%.
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