*Man in coma after buyers fight over development

It’s a problem most of our readers would love to have - buyers fighting over their properties and paying more than €600 just for a place in the queue to view the first phase.

A developer in a city close to Shanghai caused panic this weekend when it issued more queuing tickets than it had apartments available.

Dandy Holding Group Co sold approximately 660 tickets for the right reserve property in its 448 apartment block in Hangzhou. Buyers were put in 22 buses holding 30 people each, in lot order but when someone did the maths all hell broke loose.

Buyers confronted the developer and demanded lots were reallocated. When a representative from the developer refused a riot broke out and one man was put into a coma after being badly beaten in rucus.

Profiting from the Chinese boom

If ever there was a story that illustrates a market is in crazy bubble territory it is this one. Calling the end of bull market is impossible but I would bet the house that the Chinese asset bubble will burst sooner than most investors are expecting.

If you can develop the contacts, targeting affluent Chinese overseas property buyers is a no brainer.

That same cannot be said about investing directly in Chinese assets. The ISA season will soon be upon us and investment advisors will be pushing China to gullible retail investors.

As an investor, the time to fearful is when everyone else is bullish. It will be a big pay day for IFA’s selling Chinese trusts but it’s another example of why the most lucrative markets for agents and IFA’s are not always the best investment opportunities for the client.

Source: Global edge

Advertise here