Beijing's housing bubble perked up by mistresses?

Home prices in China’s big cities have been rocketing up, causing some to fear a bubble is on the rise, and mistresses of wealthy Chinese businessmen and government officials could be adding pressure, the news publication Quartz reported.

One mistress in Beijing, quoted in an article in the London-based magazine Aeon published today, told the writer, “Local estate agents target provincial officials and businessmen looking to put their money into Beijing’s property bubble, and the men fill up the apartments, bought as investments, with their women.”

In 2010, the Beijing Evening Daily estimated that 200,000 mistresses occupied Beijing apartments. The paper noted then that curbing the practice would slow the pace of rising home prices in China’s capital, but since then they have only shot up.

Source: Quartz