Chinese real estate prices continue to rise defying gravity. Prices in big cities such as Beijing, Shanghai, etc. are beyond the reach of the middle-class. I came across this video of a frustrated Beijing resident throwing shoe at a property developer.

Related articles:1) China property prices continue rise in April “SHANGHAI — Property prices in China posted the biggest year-on-year jump in nearly five years in April, official data showed Tuesday, amid persistent fears about a growing bubble in the real estate sector.

Prices in major cities rose 12.8 percent on year in April, the National Bureau of Statistics said on its website, marking the biggest year-on-year rise for a single month since the survey was widened to 70 cities in July 2005.”

2) Beijing Home Prices Plunge 31.4%

“May 11 — The average transaction price of commercial residential properties in Beijing for the week ended May 9 fell 1,790 yuan per square meter or 9.6 percent week-on-week to 16,898 yuan per square meter, reports The Beijing News, citing statistics released by Beijing Real Estate Information Network.

Compared with the week ended April 11, the average transaction price of commercial residential properties in Beijing plunged 31.43 percent to 7,744 yuan per square mete”