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Nation's Priciest 'British Chic Mansions' Under Construction by Beijing

by Nancy Needhima on August 1, 2012 at 4:44 PM
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Nation's Priciest 'British Chic Mansions' Under Construction by Beijing

39 Palladian mansions is getting built by Chinese developers in a suburb of Beijing, estimated at a minimum of 10 million pounds to the government, is flaunted as the country's costliest housing estate.

The Mentougou Estate comes as the latest in a long line of developments feeding China's ever-growing property bubble, which has seen the market filled to the brim, with a reported 64 million empty homes and grossly overvalued properties.

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Targeting Beijing's super-wealthy businessmen working class, the Mentougou Estate would be based on neo-Georgian designs and would be ready by the end of 2013.

"These homes are aimed at the very wealthy buyer and have to be perfect," the Daily Mail quoted a spokesman of the Mentougou Estate, as saying.

However, there is a question as to whether anyone will buy accommodation in the plush residential estate, as the Chinese property market is already flooded with high-priced but deserted properties, the paper said.

Source: ANI
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