Chinese Investors Bet on North Korea Opening, Home Prices Double in 2 Weeks

iFeng: 丹东楼市:浙江炒房团杀到 两亿元谈整栋楼购买
"China Business" reporter observed that due to North Korea peace talks and North Korea announced the abandonment of nuclear and will focus on all forces to carry out economic construction and other factors, China's border with North Korea, Dandong City, Liaoning Province once again attracted attention. The most obvious is the real estate market in Dandong. In a short period of time, Dandong's housing prices have seen a new round of skyrocketing prices.

However, during a multi-day investigation visit, the reporter found that along with the skyrocketing housing prices, the supply side of the real estate market is still “a fiendish dance”, and it is not uncommon for sellers to reluctantly sell, illegal pre-sale, or drop houses.

In addition, people in the industry have stated that although the general public are generally optimistic about the future of Dandong, China and the DPRK have great differences in terms of national conditions and other aspects. Coupled with the fact that Dandong “seeks to develop”, investors should face it squarely. In an interview with reporters, a number of industry experts suggested that investors or home buyers going to Dandong should avoid blindly following the trend.

...Many local real estate professionals in Dandong said that before April 20th, the housing price in the Dandong New Area is 3,000 to 4,000 yuan per square meter, and the average price is now 6,000 to 7,000 yuan. Linjiang and the school district also said that About 8,000 yuan.

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