economy - Shanghai real estate keeps on bubbling

Shanghai bubble
While the central government tries to cool down the booming real estate, prices in Shanghai continue to rise. Last week I talked to a happy owner of a villa who had paid nine months ago two million renminbi for his house, that was now worth over four million Renminbi.
Business man Marc van der Chijs discovered a row of people sitting in front of a sales office next to his building. (Could not find the permalink)

I was told that some of the people had been sitting there for 5 days already! If you had nobody to sit in line for you, you might miss out on the chance to buy an apartment. Because prices are skyrocketing, many Shanghainese buy one or more apartments, it[base ']s still a great investment with high double digit price increases every year. A project manager at China Bay told me that she bought a new apartment 2 years ago for just over USD 100,000 and its value has more than doubled since!