- Wealth PMS
An incredible video by the Australian SBS DateLine on China. 64 million apartments are empty!
The empty malls and overconstruction seems just like Gurgaon’s Sohna Road or indeed much of the out-of-city developments in most metros. Sohna Road has like 10 malls, nearly all of them bare empty. Developers are holding on to price points like nobody’s business, and "investors" are waiting for the upmove.
If China drops, then India drops too. We will eventually blame it on an external event, because everyone inside is invested. What isn’t really accurately known is how levered our economy is on real estate.