The Cities Of Ghost Cities

1670 Words Oct 6th, 2015 7 Pages
The most populated country in the world is constructing cities with no one in them. Journalist refers to these cities as ghost cities. Ghost cities have a completely built out infrastructure with no one living in them. Many people in the financial world are nervously looking at China. They are building 12-24 small to large cities each year. The concept is to build now and sell later. The assumption is if you built it they will come, but no one is coming. Other city housing markets follow the supply and demand rule, but in China, the prices stay high. Kenneth Rapoza (2015) stated in the Forbes article, “Anyone can build a useless overpass, but it takes China to build a city for a million people with no buyers in sight.” China has constructed a fake Paris just South of Shanghai. Their Paris is an expensive knock off that is completely abandoned. Tourists only come for wedding pictures and curiosity. The Chinese Paris has an astounding 2% occupancy. These are people providing basic services for potential residence and the visiting tourists. Another massive project was Thames, which was built as a classic English village. The Thames project was estimated to cost around a billion USD. It was finished 5 years ago and is now completely empty. These replica cities are just one example of the multiple marketing strategies in the Chinese real estate industry. They also reel in potential buyers by putting up the impression that businesses such as KFC, Starbucks, H&M, Zara will be…

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