Vietnam´s tallest building under contruction: Empire City Tower (462 m)

[rcrmj]

I see. Rental rate for commercial office not residential. If the median home price in hangzhou is 1 mil more and hangzhou salary on average is just 10k usd/year, then how can the average chinese joe buy one? There is some missing elements in the home affordability factor in china here. In america if you want to buy a home the home price can't be 5 times more than your annual household income.

In China, for most local citizens (few immigrants), their income consists of incomes from their official jobs, investment realisation from previous investments (stock, real estate and interests from private borrowings etc````), and not to mention some of them got compensation from land acquisition (not as western media propagated 'forced eviction'), usually they get loads of money from it.

But I believe as China develops, the affordability factor will be getting closer to Western standards, but at least not now. as there are still huge demands from 200 million plus middle income families (100,000 RMB plus annual disposable income) who still have various income sources. And this is one of the reasons that in some places, housing prices are still shooting up, it's a tough task for local government (as in fact China has one the most decentralized government, unlike what Westerners usually believe), as the Central government only gives out national goal and does not have direct power or 'culture' of meddling local practices.