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.
Nestlé investing 100 million yuan in Pu'er coffee
发布者may also allow farmers and local government an alternative to dependance on tobacco production
Rhinos reintroduced to Yunnan
发布者There is also whalebone ivory.
Rhinos reintroduced to Yunnan
发布者I tend to agree with Danmairen.
Poaching is perhaps inevitable.
Apple concludes massive Chinese marketing scheme
发布者Is it Apple fools day?
Wenshan officials accused of running illegal logging ring
发布者I am sure some of it was spent locally.
New cars, apartment maybe.