——The Comparison Between China & Other Areas Real Estate ——The Comparison Between China & Other Areas

China’s real estate status Fast developed High price has nearly approached the peak Government's new policy Land agents’ activities The experts’ viewpoints: Froth Economy

Three Problems national economy rate of increment Gets unhooked with the development level of the national income national economy rate of increment Gets unhooked with the price index

The Factors Chinese bank interest rate is low. The property tax system is not perfect. The international fund flows into the market.

Investment According to a report from England Financial Times. The fourth quarter of 2004 , Shanghai real estate transaction, 23.2% of the house-buyers were overseas. First two months of 2005, the overseas investment grows 73% in the Shanghai Upscale real estate compares to the ratio at the same time of last year.

House Price Income Ratio WB Standard 5:1 UN Standard 4:1 China 10:1~15:1 America 3:1 Japan 4:1 Hong Kong 14:1 (before 1997)

America China Russia France Korean Comparisons

Gobble Housing Prices in 2005 Beijing 5,600 Yuan/m2 Shanghai 6,698Yuan/m2 Shenzhen 7,659Yuan/m2 Moscow 16,800Yuan/m2 Tokyo 34,000Yuan/m2 Paris 50,000Yuan/m2 Brussels 1,500,000Yuan/suit London 4,170,000Yuan/suit America 1,920,000Yuan/suit

China’s Superiority The tendency after regulating China's real estate, Germany Business Newspaper believed, although the European investors were worried about Chinese "real estate froth" , but China has her superiority. The government has control rights to adjust housing prices. One of important ways is provided the construction permission as well as the administrative order which sends out to the state-owned bank stops loaning. At present, the Chinese government is starting this policy to decrease the temperature of economy.

Solution European Real Estate Research Federation President Bent Turner said that, China's market is similar to Eastern European market 5 year ago. Looking from Eastern Europe, at initial of development, the house price surges upward. After supply rise, the house price gradually drops. finally, China only has to offer sufficient supply to be able to suppress the house price fundamentally . But Turner also stressed, China should pay attention to the immigration, those who move from the villages to the cities, and their accommodation problems. In China, the accommodation has become one of the most serious problems.

Thanks for Your Listening! ——From Shen Jingjing 04401 044154016