Price of Beijing, Shanghai, Shenzhen Real Estate Exceeds All of Japan?

From an article question the sustainability of home price increases in China: 房价,你涨得很自得,但是你真的自然嘛?
It is said that Beijing, Shanghai and Shenzhen housing has a total market capitalization of about 100 trillion yuan. This means that if China sold Beijing, Shanghai and Shenzhen, it could buy the whole of Japan, or buy half of the United States. Some even say that, at the peak of Japan's bubble economy, if you Japan sold Tokyo sold that year, it could buy United States can buy. So, housing prices in Beijing, Shanghai and Shenzhen still have room to double!
I don't know the latest figures for housing stock, but Beijing should conservatively be around 600,000,000 sqm based on prior year figures for per capita housing supply and population of 20 million. If the average price is 35,000 yuan, the city's total housing value would be about ¥21 trillion.
Therefore, the government is not willing to let the real estate industry continue to rise, but also does not want to style cliff fall occurred. Therefore, all policies are intended to ease, to comfort.
Most interesting thing about this article warning readers of a housing bubble? It was written by the China National Gold Group's chief economist.

The article had a somewhat unrelated poll at the bottom asking people about their experience buying homes and whether they were satisfied with the quality.

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