Beijing property Bubble Super Shenzhen Shanghai Experts say prices have been overdrawn

BEIJING, Shanghai and Shenzhen have always been called real estate investors Paradise, the real estate bubble is relatively obvious.　　Beijing has become the most prominent property bubble in the three cities, with a remarkable "performance" in housing prices. Reporters yesterday from the United States and other real estate agencies, 21st century property and other intermediaries learned that according to Beijing Municipal Bureau of Statistics and the Beijing Real Estate transaction management network related data measurement, measuring the four real estate bubble, Beijing has all significantly exceeded international standards, indicating bubbles exist, while the rental ratio,　　Investment ratio and house price income than the three indicators are more than Shanghai and Shenzhen, only housing prices and GDP growth indicators in the second seat.　　　　Statistics show that the last half of December, Beijing second-hand housing price has reached 13650 yuan/square meters, the November 13150 yuan/square meters rose 3.8%, the cumulative increase of 47.8%. Experts analyze the price of Beijing has been overdrawn in Shenzhen, Shanghai, the price has always been higher than Beijing, but this year's Beijing property market is a large number of crazy home buyers, leading to soaring prices to the sky.　　Many experts believe that the speed of Beijing's rise in house prices has been beyond common sense, and the market is really rigid demand, the current housing prices have been overdrawn for the next year or even two years of normal rising level. Recent Dubai crisis, let the property market bubble again become sensitive topic.　　Most property experts believe that the existence of bubbles has become an indisputable fact. December 4, Vanke chairman Wang Shi, in an interview with the U.S. Wall Street Journal, pointed out that China's overall property market is not a bubble, but Beijing, Shanghai, Guangzhou, Hangzhou, Shenzhen and other first-tier cities in real estate, there is no doubt there is a clear bubble.　　Wang Shi worries that if the bubble spreads to the two or three-line city, it will follow in the footsteps of the Japanese housing bubble.　　In this regard, the economist Andy Xie believes that China's real estate has been ahead of inflation, the real estate bubble has been big, once the global inflation, the real estate market will be hit, buying a house is clearly not a good idea to preserve.　　Zhongyuan Group Chairman Shiyong said that the property market appears in the form of bubbles, mainly in the rise in property prices, rising with the purchasing power of the vast majority of buyers disjointed, but investors and speculators are still blindly optimistic, regardless of the market, so that the property price can still rise a joy. As a result, property developers continue to develop at a high price, and banks have to increase their mortgage-related loans regardless of risk, so that the supply of buildings is far beyond the level that the market can absorb.　　As a result, houses are becoming more vacant, and investors cannot get a reasonable return on rents.　　　　When the market's capital is depleted, property prices can not continue to rise, disappointed investors will choose to leave, when the property market will usher in a "Bingbairushandao" general vicious circle, resulting in a large number of investors trapped, investment into insolvency. The three indicators of Beijing's highest index of a rental ratio of 1:546 normal: 1:200-1:300 explanation: Is the international traffic used to measure the performance of a local property market is a good proportion of data to a single set of monthly and total price ratio, the conversion of rent and roomPrice is reasonable gap. Calculation: From the rental ratio, November Beijing average rent of 2250 yuan/month, and the price reached 13150 yuan/square meters, to calculate the November Beijing's real estate rental ratio record, reached 1:546, some areas even reached 1:700.　　This suggests that buying a property in Beijing would take at least 45 years to recover costs if it depended on rental income alone.　　　　Comparison: The Shanghai rental ratio of 1:500, Shenzhen, the current rental ratio is probably maintained between 1:400-480. Index II investment ratio 62% Normal value: percent explanation: refers to the registered buyers, the investment for the purpose of the proportion of the population. The greater the proportion, the greater the risk of market investment.　　A large amount of investment demand makes the market speculation atmosphere is strong, but also to a certain extent, resulting in house prices rose too fast.　　Calculation: A survey in Beijing found that 62% of the registered buyers said that if they had the remaining funds, the property would be the preferred investment target.　　Contrast: This data is only 51% in Shanghai and 57% in Shenzhen.　　Index three housing income than 20 times times normal: 3-6 times explanation: Refers to the housing price and urban household income ratio, the higher the ratio, indicating that residents save money to buy a house longer. Calculation: According to the statistics released by the Beijing Bureau of Statistics, 2008 Beijing workers annual average wage of 44715 yuan, 2009 year calculation of 10%, the husband and wife of both sides in the average of 100,000 yuan.　　Buy a set of ordinary Beijing 5 around the average commercial housing 115 square meters, the average unit price in 17000 yuan, the total price for 2 million yuan, Beijing house price income ratio of 20 times times, even if not eat not to save money also need 20 years to buy the room. Compare: Shanghai house price income is 18 times times.　　Shenzhen house price income is 16 times times.　　Index four housing prices and GDP growth: house prices rose by 5 times times the normal value of GDP: the increase is quite explained: GDP is the gross domestic product, it is considered to be the most important measure of national economic development, if house prices are far more than GDP gains, it also means that prices have risen too much. Calculation: Beijing Municipal Bureau of Statistics, National Bureau of Statistics, Beijing survey of the first three quarters of the economic performance of the city showed that the GDP growth from the same period last year to 9.5%.　　In 2009, the average price of housing in Beijing rose by more than 60%, and house prices rose more than 5 times times GDP growth.　　Contrast: Shanghai's house prices rose more than 7 times times GDP growth, compared with Shenzhen at about 5 times times. Note: The normal value refers to the international standard