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Chinese really don't understand real estate. Real Estate is only of value because of the rental income. The present day value of a property is the discounted value of all future rents less taxes and maintenance so not putting tenants in hoping for a capital gain is just misunderstanding.
The Central banks of the world have ruined much of the economy with their low interest rate policy and the financial distortions it creates. Millions of retirees are unable to live on their savings due to the low interest rates so are pushed on to the Government pensions and live in poverty due to this mis-guided policy. Is the low interest rate policy stupidity or corruption?
Read this book now. You will be glad you did.