Thank you very much Baoju Gang’s remarks before, why should it host the forum? One is listed after the World Union for the country we want, Nantong Yangtze River Delta with the continual improvement of the traffic, has become increasingly important in Nantong is also We can not ignore the city, Martin Bureau, said a gift we give the industry, this event actually know us by.
most important is the recent market situation in the end what happened to the country, the industry is very, very concerned about the current New Deal for all problem we have the following characteristics important point, here we talk about the basic view of the world together.
Martin Agency, the Secretarybuy louboutin shoes onlineGeneral christian louboutin boutique, gentlemen! current discount louboutin real estate sector in Europe, the euro took place after the crisis, there are optimistic sentiment is grow, we think that quite a few things one can basically continue. The first is to further efforts to combat the introduction will almost look, stop here. for a further continuation of where not to go, the current national real estate means the real price increased by more than sales, is also the case of Nantong. In fact most of the city, discounts in the price is very, very small, there are several important reasons.
first reason in louboutin mall We sell very, so much inventory, which is currently available only for three months in early christian louboutin red shoes to sell houses. Why in toe platform pump are the problem? since louboutin mall there are three things to promote, not the first developer of inventory, cash ample, most important thing is the introduction of land, this year the Government in accordance with the requirements of 70genuine christian louboutin shoes of the Ministry of Land Resources for the protection of the space, so really could get out to do residential real estate development is not much volume shrinking. If In this case, the developer has no power prices, which I talk about the current status quo. The key there is one, have also said Martin Bureau, and this is what I come up for discussion, the national real estate developers that is an important domestic demand, domestic demand, most important, he stimulated the 60 industries, so the industry itself in the macroeconomic problems facing the euro when the export is facing the second half of the inflation has been anticipated, CPI index ever higher In this case, real estate, promising to pick up the estimation, all of the reasons is that this.
I want the industry to communicate is that we have some ideas may be a problem, real estate, this depends on what the depth of control does not depend on how much longer strict policy, and depends on the length of our control, that we must be careful. At present we do not cash flow problem, then after six months, there is no problem to start out. If once the government’s land prices factors to decrease the time, then we have a motive price, otherwise there would be no.
you if we can communicate directly opposed to my spot We can debate the debate on this matter. In fact, an important theoretical question I am the real estate sector considered to be errors, the first misunderstanding is that real estate is an important industrial chain, is the largest domestic demand. If the real estate not, 60 industries were all from the steel and concrete to the curtains have a problem, the louboutin shoes comfortable economy can not survive. In principle, right on , but we do not put the same in residential real estate, just Baoju cheap christian louboutin said that the security firm Nantong two senses of space, the second firm and stable real estate market. in fact not our product developers residential, is the largest domestic demand, christian louboutin’s largest domestic demand is protection of space, it can still pull more than 60 chain, that is not the real estate market, but assumed the protection of our space launch capacity is adequate, Our chain is no problem. So I remind you that we must pay attention, because each city is different, the question now is no time protection of space launch so soon, can not replace our current real estate industry, we say that time is now enough. precisely because not enough time, the central will lengthen the time control, so that protection of the central space until gradually the stability of consumer expectations, the regulation of this round can end real estate. This is expected How long? of you we are engaged in real estate, if the current government do to protect the speed of space, we estimate that the fastest time of the earliest year and a half, the people line up to be able to choose affordable space scale effect, this is expected to stabilize.
why the decision to adjust the length of time the depth of it? I even told Bao Juchang of you just report the real estate industry model we have carried out an inchristian louboutin peep toedepth discussion of the small business school in wholesale christian louboutin shoes is far Professor of discussion, the stock market investors like christian louboutin salena Vanke’s shares, so many people say Vanke is a very great company, he created a lot of value for the shareholders, Ding Yuan, said that this completely wrong, Vanke’s model is an ordinary scale model of development can be said with the two sentences. The first sentence is called the growth by financing. The second sentence is profit by price or called inflation. buy used louboutins’s inflation is very interesting, is not in christian louboutin onlinena’s real estate index in the CPI, so we real estate prices is always the CPI does not include. but we think about the development of christian louboutin evening shoes’s major developers, we are not such a reason, is that you continue to rely on financing growth. Vanke listed on the stock market continuously for 20 years to financing, but the number of Vanke earnings to shareholders? very small. because Vanke to continue to develop the financing, according to the cost of buying land Vanke profit calculation does not make money if prices do not rise, then a bit worse Martin Agency christian louboutin ukna listed real estate companies profit margins are not high, the real estate of violence in the media and ordinary people feel. If the magnitude of price level is higher than the profit margin, which indicates what? This shows the magnitude of price increases every year since you is higher than the margins, the developer of the growth model we use the scale of the development of these two words is a good principle, that is, by financing your growth, your profits depend on prices or by inflation.
then this Why models do not stand for a long time the regulation, we know that this year all listed companies in cheap christian louboutin shoes’s real estate financing plans have all been rejected, the current christian louboutin pink real estate market, including issuers, including debt financing, today the investment real estate, gold, Vanke, etc. and a series of relouboutin shoes londonfinancing in the application when adding a year to go through the consent of the Ministry of Construction, Ministry of land one do not agree, so all Xiecai.
we see christian louboutin ebay Kong listed company, you have problems refinancing buy christian louboutin , then we are christian louboutin boutique Kong listed companies how? cheap christian louboutin shoes Kong listed companies almost all the same, because they cost too much. Hengda is currently issue bonds in cheap christian louboutin shoes Kong, the annual return of 17christian louboutin shoes uk return on bonds that you think this is the high cost incredible. Suppose we also expect house prices dropped by 17christian louboutin shoes uk, 17louboutin shoes comfortable of his costs, the christian louboutin anemone real estate developers, we can imagine the money is not enough. enough is temporary, for a long time we have problems of funding. When the length of time decided to adjust the depth, we see no problem at this price, I said just three reasons, first no inventory, cash recovered a good second in christian louboutin pumps, and the third the Government did not sell any land. So I expect another six months situation will change, that is, the situation is not as optimistic as we think.
second bottom of christian louboutin bridal’s economic situation will encounter a doublechristian louboutin mendip will not have a major reversal? as buy christian louboutin shoes, as we 08 10 Launched to a lot of rescue plan, I tell you the basic of you do not have this possibility. I just said that the only possible because the real estate industry chain length of pull, then a great wisdom is needed to address the christian louboutin very prive real estate issues. that is christian louboutin shoes on salena real estate business to solve the employment so long as longjimmy choochain or residential address the employment chain, if it is residential, then the future is that the Government expected the fastest fastest. our guarantee of space in the firstchristian louboutintier cities such as Shenzhen, the city more than a dozen such What years did not cover, now is stepping up cover, then how can we fast, what he’s much faster than the developers, because I was participating in the national security of the premises and the construction of their system, they want to speed up, how to accelerate it, affordable housing can not be one and a half scale, and now to get rid of him, in theory, is to form a scale.
I tell you this is the latest research, the Government introduced the Government’s protection of buildings originally dry very slow, and then the decoration is done, and then line up the election room, accreditation has many problems, not two or three years can not. Now is not the case, the Government is likely to solve the system of protection of innovation and speed to market space, the expected stability of the formation of social problems of housing, how they do it? is done, the first auction of land consolidation is not the first place this set, as long as the government have the land, planning and good design of the building, the Government can produce even the government can not , the Government requires the number of residential floor area ratio, the standard decoration on the line, then the government tendering them to the public, private sector participation in christian louboutin slingbacks Kong called the PSPS is construction of affordable housing. So there is so much personal power to do it? Originally, we said give him a profit of 5christian louboutin new york, 10christian louboutin patent platform pumps said the developer may not want the truth, but for now this case the developer will do, but 5christian louboutin new york of the developers or not active, the new system is likely to present to solve this problem.
him how to solve it, he is the amount the government how much I want affordable housing, then there is some commercial, car parks, shops and even supporting the hotels and so on, these things are not in principle, the government can not control, So will the business section, part of the shopping malls, shops tell you some of this good, I can cover many areas of shopping malls, this complete market. the government some flexibility to the developer of the mall, and then say I do not accept the Government premium, you piece of land from the construction of day you can take the model room, to be waiting to buy houses, or who apply for protection to the election, the price of your good government regulations, the government used money to build a first step, you developers to pay, but when you can start selling. the money come from how to go back, the Government requires a good price on the can, apply for protection by the people to buy houses.
safeguards with the introduction of the original there is room for you to choose a group of people, in fact, the protection of the houses are very unfair. For instance, we in Nantong, Nantong is a great city, and the transport distance is so big, so is the protection of space more important to them to facilitate lowchristian louboutin bootieincome, so he will not vote for the next time there, so on the protection of the houses began to appear on the market, and this time of year there can be, but also the development of active play , the Government has not cost so much enthusiasm.
Shenzhen Government is now bruised and battered, it is because the poor quality of the government to build a house a mess, so the protection of houses Clofibrate Hill (sound) all the owners in the streets. The Government must take allow developers to do this thing, this time I think the government is a more intelligent government. so the future of two large markets can gradually. in cheap manolo blahnik Kong and Singapore accounted for affordable housing in the housing market, the proportion of 50 louboutin wedding shoes or more, over 60louboutin wedding shoes of Singapore, louboutin shoes price Kong is 50where to buy christian louboutin shoes, 85where to buy christian louboutin shoes of our current real estate in louboutin pronounce, the unreasonable structure of the market resulted in our current real estate is not an economic problem, is a political problem.
some time ago we Foxconn jumped all know, one after another jumped to say? summary of christian louboutin shoes discount Kong and Taiwan are Foxconn problematic in itself. Foxconn did two stupid things, Foxconn, the first compensation jumped 36 million, then the employees will be counted Foxconn account each year to ten thousand can really earn, since you have 36 million of compensation, I jumped to 36 this year, I despair of my life to jump, this is the first he did wrong.
second he to all employees within the circle in the quarters, though you with a swimming pool, tennis court, bookstore, but you do not free the militarization of managers, so they said it was Foxconn a problem. We think there is definitely a two problem, but most important is that christian louboutin wedges is in the current generation of young people in the real estate market real estate mode there is no hope.
Fudan University in christian louboutin pumps Jiaotong University, Tongji graduates through wage to buy real estate in christian louboutin pumps is no hope , the graduates of Peking University Tsinghua University in christian louboutin patent platform pumps, christian louboutin patent platform pumps wanted to buy an ordinary building is no hope, when a generation of young elite nation when there is no hope, then this nation in danger.
that is, over the past fifteen of our generation, two decades, the growth of real estate prices have reached this stage. Thus was born the second market to be the second market is the guarantee of the amount of space to be together. Only in this way the sandwich class anyway they want, a nation There is no hope for is that hope into structural adjustment, I think that the length of time depends on the second market can come from, this is my opening remarks.
I shall now tell you about the New Deal to the PPT since the implementation of National Real Estate in the end what happened, in the end how? First New Deal came out of how deep the national market in the end? in the end how divided this market, how to look at this market. The second is the understanding of this time round and thought, and the third is the trend reasons the two markets, the future developers do?.
from christian louboutins shoes to buy christian louboutin, tossing once a year, but reversed hundred and eighty degrees, which in the whole of christian louboutin pigalle in the history of the industry history has never been, toss hundred and eighty degrees a year, a year tossing hundred and eighty degrees, which means what? means the central government on this issue from side to side but it is also very important. so it is always under the circumstances, the right to use from the beginning, but this is too important, in buy christian louboutin introduced the regulation of the world’s most serious, is up from the financial crunch, it is clear this issue is very, very serious. so real estate is not an economic problem christian louboutin anemone, it is a political problem.
If political issues from the analysis, we control the length of time on this and adjust the depth we should have a mental preparation, this is one of my basic viewpoint. short hundred and eighty degrees to give you relax even think about, it is impossible. Of course I agree that the situation is different in various places, like christian louboutin rolando leather, Nantong, the situation is totally different. christian louboutin rolando leather Shenzhen situation with the situation not the same as firstmanololine impact of urban and secondmanolotier cities is not the same.
Finally, the introduction of 4.15, high pressure is how come? should have been when the two should be out, when the two central hesitation, I feel a new high after two sessions, the national real estate a high red makes out. < br> You do not see selfchristian louboutin shoes ukregulation on the introduction of such stringent measures, high pressure up step by step, not the original like so dry that the Central, of course, the central step too late, one step too late a very high pressure, high pressure to catch up with the euro.
promotion is to increase housing supply, and promote a stable supply of housing supply. Since the introduction of more affordable houses to come to the equivalent of real estate prices mean, how do? only demand pressure.
then brought What was the effect? transaction data from our point of view, we are in the country, 375 are real estate agents, and their transaction data before and after the New Deal we have come to sublouboutin shoes onlinevolume, turnover, the investment proportion of ownerchristian louboutin white shoesoccupied, the proportion of mortgage loans we do a more quantitative analysis of view. in more than a month is kind of how the country? In fact, we start with the historical point of view the amount and volume of a home is often a precursor relationship .9.27 why I said at that time the New Deal than 9.27 is much more severe then 07, and his volume is low, but the large door, which means that as long as the city once the market economy is like a turn. So we see the New Deal, we come very, very small amount, home country after the implementation of the New Deal volume, volume, less the national average to sublouboutin style shoesdoor for a quarter, half of trading volume fell.
then with the second and third tier cities are different cities, firstdiscount louboutin shoestier cities turnover 70barneys down, we look at second and third tier cities in the World Union World Union of transactions accounted for an increasing proportion, 30cheap christian louboutin decline in home, close to half of the volume decline, I guess this is almost the case with the Nantong.
We are reluctant to press the line, second and third tier cities to points, the country’s urban real estate, we feel very good. Why is it bad? even as the second and third tier cities also have very high priced areas, there are very low, as firstchristian louboutin ebaytier cities such as designer shoes knockoffs have low transaction price, the price we are willing to use a subchristian louboutin shoesdivided, with the national perspective, what the price is characteristic, that is how to price. If the price to subchristian louboutin shoesparagraph, you do not A second and third, second and third line because of a too general, and we are willing to talk about twentychristian louboutin shoesfive thousand or more, 16,000 to 25,000 between 8000christian louboutin shoes16000, 4000christian louboutin 20098000, four thousand less. Why do subchristian louboutin shoes ? because this is not a market in several markets, such as twentychristian louboutin 2009five thousand of the market, this market is a market full of wealth class, wealth, class market with the 4000christian louboutin shoes8000 solve the needs of ownerchristian louboutin priveoccupied market rigidity is not the case, such as its leverage ratio, investment objectives, subject to the impact of interest rates by inflation is completely different. It is also not the same as the premium level, we see twentychristian louboutin privefive thousand of the market, in fact designer shoes, land prices in 10000christian louboutin shoes10000 between five. So 8000christian louboutin pink shoes16000 market it, the basic premium of about three thousand dollars, and in this land inside its composition is not the same proportion, that is not the same developer.
then we look at its performance, is of course now look down, but not particularly consistent. We see 16,000 to 25,000 this deal now that it has a little bounce, this is particularly interesting, eight 1000christian louboutin mens shoes16000 us deal did not continue lower, twentyhigh heelsfive thousand more than a little trouble now see that, then how about the future of each market, we want to determine under what circumstances the future? then the future we want to be with you for the world continue to share joint the trend of the national situation, because the world together more than 370 properties for sale, along with the Henkuai in christian louboutin wedding shoesg Union, plus more than 370 properties for sale, we estimate that nearly eight hundred number to represent real estate Jishi referential. < br> We look weighed on the market, since the tenants, investors, investment ratio and changes in their own homes are not the same, which is the former, in buy christian louboutin when he was not reversed when the ratio as a significant support for investors to enter the market. 4.15 we see the New Deal, we see in fact against the relatively large number of firstchristian louboutin discount shoestier cities, second and third tier cities, we see firstdesigner shoestier cities is clearly reduced investors very, very much, second and third tier cities the proportion of investment in building their own homes has not changed, they in the home. So investors and ownermanolo blahnik pumpoccupied firstlouboutin malltier cities has begun to decline, and that is the home of different purposes, why should emphasize that I do, which is supported at this time what we are marketing in the end, if not this, then, it is not targeted. If the marketing or the old routines I feel bad you are not good people, good people you Ye Hao, you follow the market trend is good, I do not think is right.
national model city we all Intervals vary the proportion of home buyers use to see, beginning to show an interval of each segment investment, home and investment and not the same as the proportion of ownerchristian louboutin londonoccupied, so when we see if this the case, we find twentychristian louboutin shoes on salefive thousand or more, for example, is currently in Hainan top of the house, it has not much problem? but no big problem. but is a pure investment may be a problem, no problem investing and selfchristian louboutin shoes on saleoccupied, is rising, so the situation is different.
This is a bank decline in the proportion of mortgage data, is the second and third tier cities drop to 5louboutin pronunciationfold decrease, the decline in the proportion of firstchristian louboutin wedding shoestier cities mortgage, I feel that the proportion of second and third line down is not much that banks were dealing with regional policy, Bank uses a differentiated policy. then such a policy reaffirmed in the local governments do not strictly the case, banks will be differentiated for their own interests to determine.
very big difference between real estate transactions, but this is not a good reference, volume is different in each city. Some cities in the average transaction price is still rising in some cities, or indeed very powerful.
I want to talk about the New Deal did not sell well under? We think that this is World Union of the actual case, this is just bought in Changzhou, a full month of May opening of the New Deal. The new real estate can be sold now, like so many of them are late in Nantong, very troublesome, the new disk space can hold their own price . now look at this performance was very good, generally about 10christian louboutin simple patent pumps 8520christian louboutin shoes sale of the sales rate, the disk up to 80christian louboutin shoes sale, and the price is still rising. So how can it? Relying on accurate understanding of our customers and customer services. Some customers in the ongoing contraction this time you have no idea, but some customers are no problem, this time you should focus. I always feel that in a falling market when the competition if you want to fight, not get lucky, then Precision is very, very important. your rhetoric with the gang on the upper mainstream customers, and your activities are of interest to them, this is very important, and had to keep the toss. this is our real estate in Shenzhen, in fact, Shenzhen is the city hardest hit, after the New Deal, this project opened in Shenzhen are some very expensive, are also to sell the villa.
so I still think that precisely why we can do it? is because we now started, in fact, the World Alliance of dry matter of dry years, and we put this thing to do CRM, customer, do not do this thing sometimes spend a lot of time and money to advertise, what the results of these ads is the use? some of our cooperation with the advertising agency, with the media to cooperate with the website, 忽悠 you advertise, the house did not sell it, the advertising company to make money, this is not reasonable. The most fundamental thing is to clearly sort out customers.
our current round of macrochristian louboutin peep toe regulation of knowledge and thinking, the most important is the three decades tremendous progress of christian louboutin bridal’s reform and opening up to christian louboutin shoes but began to change when the age, this era began to change, real estate has not changed, then the real estate triumph on outdated.
The era of great changes have indeed occurred. In fact in authentic christian louboutin shoes for christian louboutin history, it is the end of an era, but is a new era. The original time is the foreign trade, manufacturing, exportlouboutin pronounceoriented investment, domestic demand fully supplemented by age, in louboutin shoes before we see a lot of the birth of christian louboutin heels’s manufacturing industry rich, in fact we are the focus of development in the coastal open cities, special economic zones, urbanization and industrialization, we are lagging behind, migrant solve all the problems of his own, the most important is that we increase louboutin mall’s national strength. to cheap jimmy choo we have completed this mission in christian louboutin platformna, which is the rapid development of manolona mission in cheap jimmy choo. we have entered the era of domestic demand, regardless of the environment we use 08 countries to obtain the rapid production, we bring our distort the regional balance of price, such as our energy, water distort these prices are all, but as long as growth on the line, but we found the original to the era of domestic demand, low wages may have problem, Foxconn is now put 33discount louboutin shoes mean? means low wages of christian louboutin laborers began to change the times, I think this year there will be inflation, the number again, because there are a few inevitable.
The first is artificial, man must have an obvious promotion. The second farm is very optimistic about this year, discount louboutin’s CPI in the first half okay, mainly pork, cheap, food is expensive by. Why is pork cheaper? as a feminist too much to kill, why kill the pig kill, because the are scared and mouth disease, so jimmy choona’s pork market supply is sufficient. then the christian louboutin store real estate rents began to rise slowly, so the era of deep domestic conflict broke out one after another.
Well, in fact in this case, christian louboutin toronto does need an inchristian louboutin sale ukdepth rechristian louboutin sale uklasting changes, the sochristian louboutincalled Hu Jintao, the Communist Party’s internal meetings with the fiftylouboutin pronunciationsecond speed up structural adjustments, in fact, this matter is not adjusted structures dying, in fact, the background of the current round of macrochristian louboutincontrol is this.
current crisis, the euro will impact on us suspend our macrochristian louboutin shoes salecontrol? I can not tell you is that. The euro crisis is not much of a crisis, It is not the same as with the subprime mortgage crisis, hundreds of billions of subprime mortgage crisis is a crisis, but continue to keep packaged packaged, to engage in a big bubble, the christian louboutin pigalle banks are influential, the euro crisis is less severe, now appears to be effective, less serious impact on jimmy choo will not only further decline in our exports, of course, this appears to be affected, as the euro.
the euro against the dollar affected by not going to rise, will rise a long time, you We see the contradiction, the contraction of domestic liquidity problem, actually has been shrinking, and now I’m afraid the second half of the rate hike. is that we constantly shrinking liquidity, real estate tax is basically a clear need to pay, but when received do not know, of course, this is a sword hanging over his head, but the problem most likely caused by the christian louboutin online real estate is once, twice the rate hike, as long as the out, the days of our real estate business is harder, because we too much leverage.
why I emphasize the future to pay attention to M1 and M2 do, we will see growth of commercial housing price growth rate is up with the M1, is the high price depends on the developer is completely wrong, that is, How much additional basis for your money, how much real estate prices to increase, this growth is synchronized why the prices so dramatically In christian louboutin discount shoes, Nantong, I just asked about eight thousand dollars from the five thousand dollar rose to a number of real estate, and why up The so powerful? is because our 30louboutin style shoes growth of base money, M1 is up 30christian louboutin uk in christian louboutin discount shoes, up 30louboutin style shoes of your price is very, very important. so that developers on price the black heart of this theory does not exist because this theory is completely consistent with the currency.
this is something more interesting, M2 is broad money, that is coupled with the multiplier effect of bank loans, M2 with total market value of housing is exactly the same, over the years are so, little difference. That is what? in high heel shoes, how much money, then all of cheap manolo’s total value of the house should be simply asked the same. 60 trillion last year, then 60 trillion of the total value of the M2, the value of christian louboutin shoes salena’s house 60 trillion, this is very, very interesting. When we come up with the count, last week he was member of the christian louboutin hyper prive peep toe pumps currency, when we discussed about the things he did not study them, but the number of supporting him a view that the Housing Real estate is bracket, Niu Bizi currency is currently not collected money Niu Bizi too tight, it is now moving bracket. So when the real estate should straighten out the bracket does not move, the currency adjustment finished. or not to move Corbel the central authority will be affected, so the logic is the logic.
6 万亿 financial crisis, this thing is by the original house, by selling land to pay back the money. because by the project itself is not always the money from the Yangtze River Delta One particularly interesting phenomenon, if you drive a car are walking in the christian louboutin rolando hidden platform pumpschristian louboutin fashionchristian louboutin highway, less than two kilometers you will find that running a railway car, another two kilometers will see the national highbuy christian louboutinspeed rail, not to the side There are a kilometer or two on a line that is called in the big fast magnetic levitation. that is within the range of six kilometers around the three railway lines, which look to the future benefits are positive.
this issue requires the central great wisdom, the central if Finance is not transferred, not to asset stripping local governments are very difficult, and this is the reason we hold on.
So there are so many cities, making our internal and external environment is very complex, so we persistence of macrochristian louboutin peep toecontrol you might be suspect, may sway, but there is a more complex situation, the more cautious central. then the real estate will be a very time synchronization is very depressing, as long as the protection of space is not expected to form a stable market.
then the future is the real estate market, I think the two big markets, the two largest market for louboutin shoes online M correspond to the two major populationlouboutin mallbased society. So is the lowmanolo blahnikand highchristian louboutin replicasincome, middle income and high that the two Big mainstream crowd are two totally different markets.
so small size market and the market is not rigid requirements for the developer is not it? is not. In fact we have two entirely residential real estate prices in louboutin sale Kong we also summarize the changes in We will find these two different market conditions cheap christian louboutin, and it’s not the same market performance. then the developers this time to select what you do, you are doing or to do an ordinary luxury market, housing market, and you selected when you formed the core competencies.
example, the red star of christian louboutin prive Kongcheap christian louboutinbased (voice), he chose to do the luxury market, luxury market, the developers do to the competitiveness gradually formed, then the monopoly began to generated. then he made luxury relatively low purchase cost, the cost of all construction procurement is very, very low, and the quality is very very good. because I have done in buy christian louboutin Kong, I was doing real estate projects overseas in jimmy choo, how do we spend money a lot more than he, and we as their good things. For example, our marble, how do we buy expensive than their result, we share that with him because he is all to do luxury, not to general residential, so that he can pack in Italy a mountain, he bun on the cheap, and he in Italy, the hills, and mining marble, marble cutting in Italy took a good transportation to manolo blahnik sale Kong. what sort of house we have done overseas in christian louboutin shopna, so some houses can not use so much marble, We can only buy through the retail market, then your 50christian louboutin peep toe, 50christian louboutin peep toe of a marble to you, then you can imagine other building materials, so that he formed at the end of the market monopoly, the gradual withdrawal of other developers, we are doing is trim.
small house so we will have covered core competence, then christian louboutin sample sale Kong to become better and better, this way there is no way, we were forced to turn to do urban renewal, it is necessary to explore the old city The core of our competitiveness, and finally by all means we are also doing well because we do have old city core competencies.
Therefore, the luxury market to market changes than the average rate of large multichristian louboutin sale ukresidential market, a rate hike extremely large luxury market, but the powerful gains without luxury. We say that the case of two markets, cheap louboutin shoes’s highchristian louboutin sale ukend real estate market in the future, I think that the protection of lowchristian louboutin shoe saleend space once the market is bound to ease the formation of highchristian louboutin shoe saleend market by market natural adjustment, and then manage the real lowchristian louboutin sale ukend market.
then the government is actually on the highlouboutin mallend market, not buy christian louboutin doing control measures, South Korea are dry, they dry too cruel. They Capital gains tax , the second suite must pay 30manolo blahnik capital gains tax, ruthless than we, but the result is very bad. South Korea soared 2.8 times the luxury, of course, the rate you see him up there for a fight with us.
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