I am not kidding, like I said in the article traffic of Beijing(http://www.beijinghangout.com/?p=92), traffic jam is extremely worse in Beijing especially in rush hour, usually it will take more than 1 hour driving to my working place from my home, (about 25 km ), I lived in the place which is outside the 5th ring express way, where most working class live in. And everyday I spent more than half an hour on the road from 5th ring to 4th ring express road , as I am considering exchange my apartment to near 4th ring express way with extra money, I dig into the price of apartment there(check out the real estate I for detail http://www.beijinghangout.com/?p=608), In general, an averaged decent used apartment will cost me more than 1 million Dollars(100 square meter),which bring up today’s title and far beyond my capability to afford, I don’t know if the people living in NYC or Tokyo feels the same way like I did, yet I think it is kind of worthy because real estate in Beijing is not only a living place or home, but a investment greater than any other finance product in the market, my original apartment increased 10 times by the value in the past decade, you can’t find any comparable financial product.
Well, nothing can never change, I can’t see it will go that way all the time, just a matter of time, like economic crash of Japan in 90s. Even authority enacted serious restrictions on the real estate transaction in early 2017, lots of people are still finding their way to circumvent the regulation, like divorce etc..actually I have a little concerned about the market, but still, I am in the market, seeking the way to exchange my apartment with loan from bank. A steady market is better for everyone.
Just check out some photo I taken from the Real estate Registration Administration, still crowded that much.