I wonder how long will this continue… Last Sunday I helped my relatives to buy two apartment suites in the peripheral area of Xiamen, and it was not an enjoyable shopping experience.
We went there at 7:30 a.m in the morning and only managed to meet the sales representative at about 11:00 am. In less than two minutes, we decided to buy two sets and rushed to the counter for the paperwork and deposit.
Everyone around me appeared eager to buy and the atmosphere was nothing short of feverishness. The media people came and there were two police cars in the scene. One of the security guards told me some people began to queue up from previous night.
There was a strange festivity in the air and everyone seemed to have a party. But the real winner is the real estate sharks.
I consider this is very abnormal and the real estate companies are making obscene amount of money out of the pocket of common wage earners. How long will this last? I am not sure, but so far the bubble is still growing, at least in Xiamen.
(photo shows people queuing up to buy the apartments)