An unusual aspect of the Shanghai property market is that residential house prices are within striking distance of the richest countries of the developed world, while the average per capita disposal income defined as gross household income minus tax and social security contributions of Shanghai is around $1000 dollars per year.
The average house price per metre in Shanghai is around $600 per square metre. So a typical newly-constructed two-bedroom, 100 square metre flat going for $60,000 is the equivalent of 60 years of disposable income.
The gulf between income and price is a striking disconnect that is causing some analysts to see the government's recent tightening...
