China’s Ghost Towns – 50 million homes empty.
Following on from a previous post on the Chinese Property Market. Property is the principle source of investment for most Chinese, who do not trust their banks or the stock market. But fears of a serious real estate slump are growing as about 50 million homes are empty. Chinese investors are therefore looking to invest in property markets overseas – Australia, New Zealand, USA to name a few. See video below from Al Jazeera.