[thomasd]

One thing not mentioned here is how much the Chinese value brand new properties. By brand new I mean, properties that have never been used/lived in.

It's a common trend in real estate where investors buy properties and leave it vacant to brag about the place being brand new to sell at a higher price in the future.

This is likely to exacerbate the "empty" cities problem in China.

[bane]

Interestingly, in Japan, this preference is dealt with by building "disposable" houses with financing and a 25 year depreciating property valuation built around this concept.

Here's a great video https://www.youtube.com/watch?v=7tNpFkdZwpk