|Where is everyone? |
The complex in Huizhou in Guangdong province in the southeast of
China is one of the country's largest white elephants.
Command & Control Meets Business - Socialist central planners snap their fingers and entire cities are built almost overnight. Often empty cities with empty business districts and empty shopping malls.
This is the biggest real estate bubble in the history of the world. When it bursts it might take down the entire economy of China and have a devastating domino impact on the world. . . . . or China may find a way to import people into these cities.
This is one of China's ghost towns - a 14 square mile development where no-one wants to live.
|When China's real estate bubble bursts|
will it domino around the world
taking down other nations?
The complex in Huizhou in Guangdong province in the southeast of China is one of the country's largest white elephants.
Named Dayawan, the buildings stand near to a nuclear power plant reports the UK Daily Mail.
Locals fear radiation poisoning and have kept away.
The development is also at least an hour's drive from the nearby major metropolis of Shenzhen, another factor for keeping it empty of residents.
Despite the fact that the homes are low cost, developers have been unable to sell them. Recently at night lights were seen on in only two out of 2,328 apartments.
'I will never buy a home here. It’s so scary at night,' said Wen Lin.
But it is not much better in daylight.
Despite developers promising attractive terms and a free lunch just to look around, there are few takers.
Changzhou, China Ghost City?
The Wujin district of Changzhou has been called a Ghost City by the China Youth
Daily and other Chinese and international publications. But the Chinese appear to
be finding ways to slowly get people to move in.
|Named Dayawan, the buildings stand near to a nuclear power plant |
which has put people off buying properties on the site.
|Rows upon rows of apartment blocks stand empty in |
Huizhou in Guangdong province.
Recently at night lights were seen on in only two out of 2,328 apartments in
Huizhou in Guangdong province in the southeast of China.
The Tianducheng development in Hangzhou is designed to accommodate at
least 10,000 people but it has instead been labelled as a ghost town.