China Money Funneled to Far-Flung Homes Flags Bubble TroubleBy
Overheating risks rise in housing markets of smaller cities
Buyers locked out of home cities seize opportunities elsewhere
When a 59-year-old accountant in Shanghai wanted to invest for her looming retirement, she bought two cheap apartments — on the other side of the country.
“When friends told me about a chance to buy properties in Xishuangbanna, I thought ‘why not?”’ said Yuan Junxi, talking of the steamy, subtropical region in Yunnan province, bordering Laos and Myanmar. “No buying limits; cheap, easy mortgages; and maybe property prices will jump over there too.”…
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