China's Rich Spend Millions on Shanghai Homes

Shanghai's luxury real estate market has emerged as a bright spot in an otherwise bleak Chinese property sector. The financial hub is the only mega city where people are still putting down money in an asset class that's been abandoned elsewhere. Bloomberg's Asia Investing Editor Russell Ward joins "Bloomberg: The China Show" with the details.
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[@AlanSmith88888]

A wise man once told me, real estate is about 3 things: location, location, location.

[@pjacobsen1000]

I don't think this is surprising at all. Shanghai is like NYC or Paris: There will always be a huge number of people who want nothing more than to be able to live in these cities. Even when the rest of the housing market is crashing, these metropolitan markets don't budge. During the sub prime mortgage crisis in the US in 2008, apartments in Manhattan kept their price. These big cities will be the last to fall.

[@AntieCathyria]

You don't need to be rich……every room in Shanghai cost millions……

[@bayernvoeller]

CIA - ' China has destroyed NASA Apollo Mission landing site, leaving no trace of American Astronaut on the Moon surface !!! '

[@huas5350]

Oh, for the past two years, the news has been telling me that China's real estate market has collapsed

[@pjacobsen1000]

It has in a sense, just not in 1st tier cities.

[@leanlifer]

it's in "correction phase"

[@ssuwandi3240]

Yes The Evergrande collapsed. The shadows bank collapsed. Only 1 city buy up would not cure the problems in debt structures and low consumption that eroded big 5 banks

[@chrismanchin]

Price soared 18% last year!

[@endodevices8129]

Rich people everywhere always spend millions on property in major city.

[@rawword]

Someone seems jealous

[@andrean2247]

Collapse is cancelled?

[@JustSoKinda]

Rich people usually have lots of stocks. The A index is under 3000 again. So they lose money. Where’s the money to buy higher price properties

[@thomasrogers9146]

THEY JUST LEAVE CHINA ALONE.

[@heli398]

Shanghai cbd is a different case

[@lokesh303101]

Yes!

[@dalang8872]

🇨🇳🇨🇳🇨🇳💪😎😉

[@williamzabiski7653]

government officials

[@calvinh2155]

Cope :)

[@l6256t]

PEOPLES REPUBLIC OF PROPAGANDA. 🇨🇳🇨🇳🇨🇳😊

[@yangjuguang]

China's propaganda gap with west is much larger than technology gap with west.