Beautiful city of Hangzhou in China with interesting sights pagoda, beautiful lake and now it has attracted new visitors with another goal that is real estate. Though in recent years house prices in Hangzhou rose dramatically but the government fears of US-style crisis has led to new restrictions on sales and falling heavily in the market.
Property types such as luxury apartments and other projects have also become a target for buyers, so it isn't be surprised if powerful developers listed properties with an incredible price. The local government, flush from sales of public land to builders, built itself a $650-million headquarters.
See this phenomenon, Hangzhou has become a symbol of luck and a very speculative market of real estate in china. But recently it has become a big issue because the U.S-style real estate bubble has made the government to do steps that would eventually rein in speculators here and nationally. A tighter lending standards and higher down payments, have probably spelled the end of untamed growth in Hangzhou.
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