21 Feb

Riches with Rentals is a dedicated to people thinking of investing in the simple lucrative world of properties and becoming business entrepreneur.
Lest face it, every riches person in the world will want to buy land or own vast properties everywhere.
That will be let for rentals. That where money is made.

Property Futures

Middle class in China work for a lifetime to pay off mortgages.

Typical apartments in ShanghaiTypical apartments in Shanghai

The aspirational middle-class housing market in China means mortgages are within reach but at an added cost.

In fact, the emerging middle class economy is helping drive the housing market in the country, with gains in Q4’12 at their highest in two years.

The added cost for this middle class market is not in the average price, however, but real-estate tracking service, SouFun, notes that the average price of an apartment in China requires about 40 years worth of an annual income to pay off.

According to Bloomberg:

Mortgage rates, which move with the benchmark interest rate, usually have maturities of five to 30 years.  The People’s Bank of China’s benchmark lending rate for loans longer than five years now stands at 6.55 percent.

Outstanding residential mortgage loans grew 12.9 percent last year…

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Posted by on February 21, 2013 in Uncategorized


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