The Property Market Is Headed to Heaven – and Direct the Other Way

Predictions for this year's property prices are contradictory, just as they have been in past years. Economist Andy Xie predicts an imminent collapse of the housing bubble, while real estate mogul Ren Zhiqiang continues to see that as nonsense.

Hong Kong billionaire Li Ka-shing, who does not usually come off as alarmist, has sent off confusing signals about his views of the property market. He sold some of his real estate assets on the mainland and said the prices of land were too high. The flour, Li said, was becoming more expensive than the bread.