Residential buildings under construction on the outskirts of Shanghai are seen from the air on March 14. In April, new home values in 70 major Chinese cities grew at their fastest pace in eight months. Photo: Bloomberg Residential buildings under construction on the outskirts of Shanghai are seen from the air on March 14. In April, new home values in 70 major Chinese cities grew at their fastest pace in eight months. Photo: Bloomberg
Residential buildings under construction on the outskirts of Shanghai are seen from the air on March 14. In April, new home values in 70 major Chinese cities grew at their fastest pace in eight months. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

The View by Nicholas Spiro

Property prices are booming globally, and one thing is driving the increase

  • China, South Korea, Singapore, the US, UK and others are struggling to rein in surging prices despite or because of the pandemic
  • The underlying problem remains an acute shortage of new houses. An overhaul of planning rules and more affordable homes are urgently needed

Residential buildings under construction on the outskirts of Shanghai are seen from the air on March 14. In April, new home values in 70 major Chinese cities grew at their fastest pace in eight months. Photo: Bloomberg Residential buildings under construction on the outskirts of Shanghai are seen from the air on March 14. In April, new home values in 70 major Chinese cities grew at their fastest pace in eight months. Photo: Bloomberg
Residential buildings under construction on the outskirts of Shanghai are seen from the air on March 14. In April, new home values in 70 major Chinese cities grew at their fastest pace in eight months. Photo: Bloomberg
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.