Please no bashing of foreigners. I do notice that 90% of people that look at open homes or model tours are Asian. Now it makes sense because even selling a 500 sqft pad in Hong Kong will net you $1 million.
My question is. I always wondered where the Asian families get their money from because they seem to be the only ones buying now.
BINGO! Another sign on intelligence here.
To give you some insight. My sister-in-law living in China purchased a waterfront property in Shanghai for $500k USD a few yeas back. She rents it out to Foreign expat execs for $4000/month USD. The Chinese government has no income tax (yet) on this. So she also owns a home here.
The irony is that dollar devaluation aside, we (americans) are poorer these days.
While a lot of us continue to whine here about how prices are so high and they can't afford to live here, there are plenty of immigrants that have no problem doing this. Go figure.
