Arnstein & Lehr Partner Keith Poliakoff Quoted In Construction DiveChina Home Buying and Pricing Increases Trend on P3s
The phenomenon of escalating home buying and home prices continues in China. According to recent publications, the real estate sector now accounts for one-third of China’s GDP compared to 10% just a decade ago. Household debt has increased significantly during the last decade (now 42%). However, since it is only as a share of new loans, it is still far less than the 78% factor encountered in the United States. Home prices have dramatically risen in the major cities in China compared to other major cities in the world. Intensified government restrictions have apparently created an accelerated effect on home buying. Sources indicate that at the end of 2016, real estate accounted for approximately 69% of household assets compared to less than 60% in the U.S.