|
|
Boomtowns: the housing bubble may have burst in the United States and Western Europe. But, in cities around the world, irrational exuberance in the residential market lives on.(IN BOX)(Brief article)
- Article from:
-
Foreign Policy
- Article date:
-
May 1, 2008
|
Copyright informationCOPYRIGHT 2008 Carnegie Endowment for International Peace. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
[ILLUSTRATION OMITTED]
SINGAPORE
2007 price jump: +31 percent
Risk factor: MODERATE
A recent wave of large property redevelopments has led to a temporary shortage of housing, causing higher prices and rents. But many of these properties are now coming back on the market, and coupled with a cooling global economy Singapore's housing market will likely slow
SHANGHAI
2007 price jump: +28 percent
Risk factor: LOW
To stop speculation on residential properties, the government recently imposed new limits on foreign investment. But rapid urbanization, high demand, and the Shanghai World Expo in 2010 spelt sunny forecasts for ...