Dear Editor,
I am writing to you after reading the article on China’s Housing Market is like a Casino published on January 22, 2018. I would like to share my opinion on what I think to you and all other my readers.
I agree with you that China’s Housing Market is like a Casino. It has been noted that currently there has been a rapid growth of prices for houses in all over China. The major reason that exists for this high rise of prices is due to lack of property tax. To reduce this high rate increase of house prices serious measures has to be put in place to curb this situation. The Chinese government need to impose a property tax to regulate the prices of the house. This will reduce the urge of many investors who snap up homes hoping that the prices will rise but end up not occupied because speculators were building houses that nobody wants to buy.
By doing this, it will lead to an increase in the Chinese economy and stabilise it. Other industries such as furniture making which are related to property, forms part of the country is the vast and important contribution of the economy. I also support you that housing as it forms the country its biggest booms and more local investors has dived into it.
Another factor that has led to high prices of the houses is the accessibility of local government services and other social amenities such as education centres.
Also, teenagers more so men are required to have their apartment before they get married. This creates demand for the houses leading to their high prices.
In conclusion, I agree with you that existence of high house prices is due to lack of property tax, people trying to access certain local government services and cultural factors such as marriages.
Yours Sincerely,
