Chinese Luxury Homes Are Booming

Cheap designs have lent a surreal touch to China's urban landscape.

1 minute read

January 31, 2004, 9:00 AM PST

China's booming real-estate market for luxury villas and apartments is driven by an abundance of cheap land, cheap labour and easy credit. But many of the new residential complexes suffer from shoddy workmanship and a lack of nearby amenities, making them difficult to sell. As authorities try to impose order in the market, some developments are being "simply abandoned."

Thanks to Zvi Leve

FULL STORY: Castles in the sky

Thursday, January 22, 2004 in The Economist

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