NEW CHINA.
NANKING BOOMING^
Rush Follows . Establishment
Of Government.
FOREIGNERS SCEPTICAL.
(Australian and K.Z. Press Association.)
(Received 11 a.m.)
SHANGHAI, October 22.
Nanking is experiencing a land boom coincident with the arrival of the new Government officials and there are'thousands of office seekers. Buying continues with unabated fervour and fabulous prices are being paid. It is estimated that 50,000 office seekers are living in Nanking's hotels. Landlords double and treble the rents hourly. The Nationalist capital has become the profiteers' paradise. The majority of the buyers are Shanghai merchants.
Corporations are being organised to build cinemas, restaurants and hotels. The minimum price asked for the smallest lot is about £2000. The same property was leased yearly for £1 prior to the boom, which suggests that the people believe that stable Government has finally been established. Foreigners, however, are sceptical.
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Bibliographic details
Auckland Star, Volume LIX, Issue 251, 23 October 1928, Page 7
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139NEW CHINA. Auckland Star, Volume LIX, Issue 251, 23 October 1928, Page 7
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