Property News · April 28, 2020

Chinese homebuyers go on ‘revenge spending’ binge as cities emerge from coronavirus lockdowns


A property buying fever has gripped mainland Chinese homebuyers, who are indulging in some “revenge spending” on property as coronavirus lockdowns are lifted in major cities across the country.All 160 units at a newly launched luxury project in Shanghai, selling for 17 million yuan (US$2.4 million) to 78 million yuan, were snapped up on Monday. The lucky few who got to buy these homes were drawn from a pool of about 500 applicants, who had to queue up last week and deposit 6 million yuan for…

Source : South China Morning Post
Read more…Chinese homebuyers go on ‘revenge spending’ binge as cities emerge from coronavirus lockdowns

You may also like...