I didn’t realize the extent of the Chinese owning properties abroad, one investment of 700,000 units costing $100 billion:
Now the Chinese can’t afford the payments and can’t dump them quick enough:
Condominiums in Thailand, Vietnam, Malaysia and Japan all became popular investments. Demand prompted Chinese developers to build properties in Southeast Asia, tailor-made for affluent Chinese people eager to invest overseas or to embrace a different life abroad.
I’ve not been to Forest City but one thing in this article just makes no sense.
- In early May, I flew from Singapore to Malaysia and then took a car to Forest City. As my taxi driver drove into the city, I was struck by the size of the development — it felt like I had been transported into a futuristic movie set.*
I stay a bit west of center Singapore. It is 29KM to the Singapore Airport for me and 36KM to Forest City, Malaysia. It’s even 43KM from the JB airport to Forest City. If she was going through transit, I’d understand but that is not what is mentioned and she looks to be from SG. That doesn’t make sense.