China Property Boom
Why should the entire world should be worried about soaring property prices in China? Justin Rowlatt goes both high-rise and underground to explore the extremes of the Beijing property market. He speaks to Jimmy Ye, a wealthy businessman who owns a gigantic wine cellar packed with exclusive European vintages. He also meets some of the have-nots, people with incomes who simply can't afford the spiralling prices of apartments in the city. Chen Xiafeng is a would-be property buyer who, even though she has a mortgage, doesn't have time to put money down on a flat before someone else has bought it. She hopes the property market will cool down. One of Beijing's leading property lawyers Bing Qin, fears for the consequences if it does not.