Home
6
1158 reads

Hainan Residents Wake to News of Alien Invasion – China News

blog.waboba-asia.com — A colour piece about the Hainan property bubble and that sinking feeling you get when you realize you backed the wrong horse.

full story »
Hainan Residents Wake to News of Alien Invasion
bounceologist
Submitted by bounceologist
1 year 46 weeks ago Made popular 1 year 46 weeks ago
Tags:
ADVERTISEMENT

4 Comments

Damjan_D
Damjan_D 1 year 46 weeks ago

EXCELLENT piece. I love this - "Mario is a tall and emphatic New Yorker who delivers every sentence eye-to-eye, with vigorously waving hands to illustrate the point – which is fine, except that he also does this while driving… in a small car that he fits into like a badly-folded deck chair. Our blogger’s convention mainly involves the two us sitting in Coffee World, laptops between us, taking turns with desultory searches on Google.

“I’m sick,” said Mario after pulling up a recipe for bread made with rice and tapioca flour. “From Haikou all the way down to Sanya, property prices have relocated to outer space. I’m a million and a half poorer than I should have been, and all of these people are calling me to ask if they should sell their apartments.”

Mario has two friends with apartments in Sanya Bay, one American and one German. Both want to know if it is time to sell. Another American friend in Haikou bought an apartment two weeks ago and has just received an offer for more than twice what he paid."

torisefromashes
torisefromashes 1 year 46 weeks ago

“From Haikou all the way down to Sanya, property prices have relocated to outer space. I’m a million and a half poorer than I should have been, and all of these people are calling me to ask if they should sell their apartments.”

I hear this from relatives and friends as well...Those who already bought apartments gloat, and the rest get really depressed.

Ryan
Ryan 1 year 46 weeks ago

I met Mario when I was down in Sanya last year (small island, eh?), really nice guy and Tim's description of him is dead on.

My wife and I have been considering a move to Hainan for about a year and a half, but never seem to get the nerve to make the move. Had no idea this price jump happened, and good to know, as we were looking at apartments in Haikou that were still reasonable. Will have to go back and check.

Sanya might be a lost cause, but maybe Baoan will start developing as well, or that whole largely empty west coast.

bounceologist
bounceologist 1 year 46 weeks ago

Ryan, apparently Boao isn't much better. New apartments are selling for 20,000 per square meter.

Who Hao/Bu Hao'd It?

Similar Stories on HHR

Lunacy Prevails - Sanya Red Zone Property Bubble - 2 years 16 weeks ago

Is it or isn't it a bubble. The Economist this week says there is no bubble in the Chinese property market. My friend Mario at Sanya Expat begs to differ. He says the soaring prices here in Sanya are just getting silly, and the huge divergences in asking prices show that there's definitely something not right going on.
36,500 Couples Say Phooey to the Economic Downturn - 2 years 40 weeks ago

In all of this economic doom and gloom, here's an up story.
China's epic hangover begins - 7 weeks 1 day ago

China's credit bubble has finally popped. The country's Homelink property website reports that new home prices in Beijing fell 35pc in November from the month before. Chinese stocks are in crisis, too. The Shanghai index has fallen 30pc since May. It is off 60pc from its peak in 2008, almost as much in real terms as Wall Street from 1929 to 1933.
The demolition of the largest slum in Sanya, the desolation of the people - 50 weeks 6 days ago

In Sanya, began the demolition of Phoenix Village (Fenghuang Town), a large slum on the outskirts of Sanya, leaving many villagers homeless.
Food prices drive China's inflation rate to two-year high - 1 year 10 weeks ago

The way Liang Xiaobin sees it, he's better off not selling kumquat oranges this week than putting them on his fruit cart at their current price, which he's sure his customers will only scoff at and refuse to pay. He said bananas might be the next item to disappear from his street stall in Beijing's Yong'anli neighbourhood if food prices in China continue to soar.
With price hikes, Chinese begin number crunching: What can you buy with 100 yuan? - 1 year 12 weeks ago

China’s National Development and Reform Committee released the result of October’s consumer price monitoring in 36 cities nationwide. 80% of commodities are more expensive than in September. Talks about making ends meet come at a time when Chinese suddenly find their meals cost more, while their salaries remain frozen.
Minimum Wage Increase Jacks Up Beijing Prices - 1 year 24 weeks ago

The Beijing city government recently announced mandatory minimum wage increases of up to 20 percent in an attempt to reflect rapidly rising costs of living. Although still far short of what many in Beijing would consider a liveable income, the minimum monthly wage will increase from ¥800 to ¥960.
Get the Yuan Right, Prove Pundits Wrong - 1 year 41 weeks ago

The first article I've seen that talks real sense on the Renminbi. A small appreciation would increase inflationary pressure, not reduce it. A large appreciation would burst the property bubble. How can so many pundits have got it so wrong?
The Chinese Riviera’s Beautiful and Tanned - 1 year 43 weeks ago

Over the weekend there were rich folk out at Sanya airport thinking seriously about buying a private airbus, luxury yachts were coming and going from the pontoon at Times Coast and a man walked into a kiosk at Hainan Rendezvous and put down a straight nine million yuan on a Rolls Royce Phantom.
China's Central Bank Hits Brakes on Hot Economy - 1 year 50 weeks ago

As most countries agonize over how to keep their barely reviving economies growing, China is already looking to slam on the brakes.

Lost Laowai | China Expat Questions & Answers | China Blogs | China Expat Blog

Copyright © 2006-2012 Hao Hao Report, All Rights Reserved. Design by Dao By Design