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Chinanews, Beijing, November 24 – People from other places in China like to buy housing in Beijing as an investment, especially the owners of coal mines from Shanxi Province, because Beijing is the capital of the country.
It is estimated that nearly 35% of housing in Beijing are sold to non-locals, of whom 40% are from Shanxi. In other words, about 14% of housing in Beijing are bought by Shanxiers. Liu, a young man from Datong, Shanxi Province, has just graduated from college, and yet unemployed1. However, he has 2 big apartments in Beijing, one covering 150 sq m and the other 161 sq m. In fact, he is not the “real”owner of these two properties. His father, an owner of a coal mine with the annual productivity of no less than 100 thousand tons in Shanxi, bought these properties. Besides the housing in Beijing, the Liu family has a mansion2 in Weihai, Shandong Province, and another apartment in Datong, their home town. The rising housing prices in Beijing and the city's favorable geographical3 position make the housing market a good investment sector4, and that is why there are so many people interested in buying housing there .
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