Not only due to the general rise in prices, but due to the scarcity of land and growing high-end market, Beijing's average home transaction price in 2016 is 5.1 million yuan.
The average annual salary in Beijing is over 100,000 yuan for public employees, a dual income household might pull over 200,000 yuan a year, which makes the average price equivalent to 25 times a good middle class salary.
iFeng: 北京住宅平均成交总价达510万 或进入调整期
"The Lock-In Effect of Rising Mortgage Rates"
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Today, in the Calculated Risk Real Estate Newsletter: "The Lock-In Effect
of Rising Mortgage Rates"
A brief excerpt:
Here is new working paper from Feder...
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