Western Style Comes to Beijing Development

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Beijing Sees New Western-Style Development as Part of Housing Boom

Western-style Palladian mansions are springing up outside of Beijing, China as part of the country’s robust housing bubble.

The country’s most expensive housing project will include 39 of the homes at a minimum price of 10 million pounds.

While the homes of the Mentougou estate are expected to be turn-key ready next year there is some anxiety over whether the homes will have any buyers.

Already in China experts say there are around 64 million unoccupied homes and according to the Chinese government many are priced between 30 and 50 percent over their market value.

In 2010, the government put new regulations in place that will slow unnecessary development by limiting residents to ownership of one home.

Investors in the Beijing development are optimistic about the new homes saying that the property restrictions are easily circumvented and that these homes will cater to wealthy residents who can afford the homes.

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Source: Daily Mail

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