North Korea border town becomes China’s new hot property market

North Korea border town becomes China’s new hot property market
11/05/2018 , by , in INTERNATIONAL

A NORTH Korea border town has suddenly become China’s new hot property market, as North Korean leader Kim Jong Un’s embrace of peace sparks a buying frenzy.

New home sales in Dandong, which sits across the Yalu River from North Korea and is the center of trade between the two countries, surged to an eight-year high of 320,000 square metres in March, when US President Donald Trump announced he would have an unprecedented summit with Mr Kim, who then made a surprise visit to Beijing.

Sales stayed strong at 290,000 sq m in April, according to data from China Real Estate Information Corp, as Mr Kim made an historic first visit by a North Korean leader to South Korea. He pledged to end his nuclear weapons program, which may lead to the lifting of crippling economic sanctions.

About admin

Loading...