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Feature Story: Hainan Property Prices Skyrocketing as Mainland Speculators Descend Upon the Island In An Orgy of Lustful Insanity

So then what? A good friend suggested the scenario that after they create this asset hyperinflation, then will finally revalue the rmb against the USD sending swarms of cash-laden Chinese to American shores to snap up all the cheap real estate there.

China Daily: Hainan Property Prices Skyrocketing

As another good friend of mine here often says, "If you want to feel poor, just move to China."

Information in this article comes from sources believed to be reliable. Mario Cavolo does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. The author may or may not hold positions in issues referred to in this article. No representations are to be taken as advice or recommendation by the author to buy or sell any asset. Copyright © 2010, Mario Cavolo. All Rights Reserved.

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Hainan Island Happenings Including the Local Community, Holiday Tips and the Property Market

This entry was posted on January 29th, 2010 at 04:39:36 pm and is filed under Business Developments, Hotel News & Stories, Real Estate Information, In & Around China, News & Stories.
Tags: china, chinadaily, hainan, haitang, luhuitou, news, property, realestate, sanya, skyrocketing, speculators, yalong

1 comment

Comment from: martin clark [Member] Email
I fully agree. The orchestration is breath-taking and skillful! Following the official announcement of Hainan as an international tourism destination, the provincial government has now placed a ban on all new construction. This is being widely publicized, including on CCTV 9 for overseas Chinese, among others of course.
Perhaps I'm cynical, but this seems to be a great way to stimulate the sale of unsold properties, threaten a shortage and drive up prices. Direct observation indicates 20-30% rises in asking prices in the last couple of weeks. To be fair, the ban will also rein in the rampant practice of unauthorized building on every available piece of land and the adjoining green belt too.
The main topic of conversation among locals is the rise in apartment prices and how to jump onto the elevator, not necessarily in Sanya. Just yesterday, fueling this, I noticed a sort of "town hall" meeting with the "Top Leader" of Hainan on CCTV 2, again extolling the present and future virtues of the island.
Loads of hype, but I have a feeling that it's all true... these guys have a plan and they know how to execute!
01/30/10 @ 19:40

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