1,000 Yuan for a House, the ‘Lying Flat’ Group Pours In. Why Are Houses So Cheap?
Recently, the topic of "buying 8 houses for 100,000 yuan" and "buying a house for a thousand yuan" in Hebi City of Henan province has sparked heated discussion online. It's important to know that although housing prices are falling, even in third and fourth tier cities, the average price of a house is not less than 5,000 yuan per square meter, let alone tens of thousands of yuan per square meter in first-tier cities. So, why are houses in Hebi city so cheap? According to mainland media reports, from October 2020, 39-year-old Beijinger Ding Le decided to buy cheap houses to use as warehouses for his business. He noticed that the houses in the old city area of Hebi, located in the northern part of Henan, were affordable and convenient for transportation. Hence, within the following half month, he purchased 8 houses, spending a total of 100,000 yuan. The cheapest house cost 1,000 yuan, with an additional 1,000 yuan in agency fees, totalling only 2,000 yuan. Ding Le said, "For a thousand yuan, you can't even buy a mobile phone now, so I just bought it for fun. If it doesn't work out, I can turn it into a haunted house... Remote live streaming would work, and there will surely be people interested in watching." #chinaobserver All rights reserved.
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