Just to be clear, in case someone comes to this thread on page 3 and draws the wrong conclusion about the rental multiplier. The rental multiplier does not set the property value. It is just a crude indicator to the level of property prices, i.e. overpriced (bubble) or under priced (depressed). I have heard figures of 200-300x being used to describe a sensible level, but that is of course subjective. I have only heard it used in this way, for the domestic property market.
As for leasing values of commercial property, that is a totally different market. People buy commercial property with the aim to earn/rent it out usually, and not as an investment. About 5 years ago we were quoted commercial property rents in Kunming (not in prime locations) that were higher than they were in comparable districts (not prime locations) in Shanghai. I cannot suggest reasons for this particular form of madness, except just dumb avarice.
Kunming's metro could cost 300 billion yuan
发布者If they worry about cost, and only provide minimum service until things pay for themselves, then they will always be in a debt cycle. For example, if the service only runs the cheapest (minimal) service from 9-5 people cannot possibly use it for work. They screw themselves.
There is a real need to bite the bullet. Then the best returns can be realised, only if they take the risk and run the service as a viable alternative to driving. Short term loss will be high, but utilisation will follow very quickly.
There is a need to follow the models of service provision in Shanghai and Beijing, but accept that the break even point in Kunming will take longer to realise. However, if you don't, the losses will continue for many years.
Kunming to offer visa-free transit stays
发布者Not sure, but would that be transiting? I think transit ticket is for an onward journey to a third country.
Perhaps you could fly from somewhere, via Kunming, to HK or vice vesa.
Airport temper tantrum lands Yunnan official in prison
发布者That last statement contradicts itself.
Kunming to offer visa-free transit stays
发布者Shanghai and Beijing are also major business hubs and doing a few days extra business, while breaking a long haul trek, makes sense. Also, both cities are tourist centres in themselves.
Kunming is neither. Kunming wants to be a trade centre with ASEAN, but that is not yet happening. Kunming is not really a destination, more of a spring board to Yunnan (which you cannot do in 3 days). All you can really do is play golf, which some people do.
Airport temper tantrum lands Yunnan official in prison
发布者I think the crime was getting caught, and so publically. Getting caught on camera and having it go viral is an embarrassment to gov. This is not good for social order.
There has also been a trend towards more unruly behaviour at airports, some of which have gone viral (like the Shandong woman in Guangzhou airport). This case in Kunming might be an exemplory/detterent sentencing.
Either way, it is a step in the right direction.