real estate - Still room for expansion

The real or imaginary bubble in the Shanghai real estate makes this market to one of the booming once. Today I spend an afternoon in one of the more wealthy districts of the city, Xujiahui, to investigate the rent market. While rents at the high end might be coming down, in the middle and the lower end of the market trade is hot. Real estate agents need only minutes to find people to rent apartments in the range of 2,000 Rmb (250 USD) per month. For double the price, it is much harder. Under 2,000 Rmb you end up in some of the old houses that are still abundant in Shanghai. The bubble has still room to develop.