, based on nighttime light data. According to the estimates, vacancy rates run to around 22% in Dalian, Harbin, Changchun and Shenyang—above the already-high 15% and 16% seen in Shenzhen and Shanghai, respectively.
Chinese real-estate markets’ ability to sustain both very high vacancy rates and surging prices is excellent evidence of speculation. And since speculative behavior isn't always based on actual economic conditions, there is no immediate reason to believe that demographic shifts will cool the housing market—at least in big cities.
Rents in the northeast, which are more directly determined by actual supply and demand for lodging, tell a different story. In Harbin and Dalian, monthly rents per square meter have barely budged in the past decade—in contrast to the approximate doubling in tier one markets like Shanghai, Beijing and Shenzhen.
Demographics could eventually become a key factor in the big Chinese housing markets. But right now, even a falling national population wouldn’t necessarily be an impetus for rapid change.Copyright ©2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
在加沙的巴勒斯坦，士兵诉诸暴力侵害儿童的行为。 我们必须帮助他们。 请倾听我们的意见并为我们提供帮助。 儿童和无辜的人需要我们。 HopeToGaza
China's housing market is CANADA.
slaughter is not a form of defense simply a brutality of humanity, a genocide. HopetoGaza
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