Big projects, hot prices

Hainan: An announcement that the tropical island would be transformed into a top international tourist hotspot prompted investors from across the country – and beyond – to rush in and snap up properties.

Shanghai: Land and property prices in the Pudong New Zone area, especially plots near where the new Disney theme park would be sited, shot up to record highs.

Beijing: The 2008 Olympic Games benefited residents and property developers alike as a massive building spree gripped the city in the two years leading up to the Games. Prices slumped after the Games and dipped further when the global economic crisis bit. But the government’s massive stimulus measures, announced last year, boosted them again to new heights.

Guangdong: Property prices in key cities such as Shenzhen and Guangzhou shot up, thanks to stimulus-funded projects, such as schemes to rejuvenate the Pearl River Delta region, the high-speed railway linking Hong Kong, Macau and Shenzhen, and the ultra-speedy Wuhan-Guangzhou rail connection.

Source : Sunday Times – 21 Mar 2010

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