Own A House - real estate market news

Change of building site geography – is one more tendency of the world real estate market. - New sites of the building boom - Asia and countries of the Persian Gulf. In the urbanized zones of coastal China and Southern Asia, according to the forecasts, in twenty years time will concentrate half of the planet’s population.

Europe, where population does not grow and building supply is high, cannot brag of global projects. Moreover, volumes of house-building in some countries fall. For instance, in Western Germany the volume of house-building has reduced more than twice for ten years, and in East Germany - more than in three times. At that the prime cost is rather high, that also doesn’t encourage mega-projects: according to the research of architectural magazine Wonderland, one square meter in a private house costs in the Western Europe 1430 Euros, in the East Europe - 780 Euros.

The main huge building site of the world is China. In a marvelous way Chinese manage to build 1 sq. m of habitation for a person in one year. In Shanghai a housing stock has practically trebled for ten years. In Chinese People’s Republic in resent years the population of many towns has grown up to one million.
It is interesting, that China not only invests huge money in housing construction (2,1 billion dollars in 2006), but also skillfully controls the market. So, when in 2005 the market in Shanghai became superheated, authorities managed to cut off speculators from the market and prevent growth of the bubble.