Yes, will continue to grow, at the same time, high risk

China's property is TOO MUCH policy driven. Today it's this policy, tomorrow it's another. All policies are cooked behind the veil. Investors have no transparency. Therefore, although the appreciation is high, risk is also very high. I would say it's 10 times more risky to play in China than in the US. In the US, you can study demographic and local statistics to make most correct decisions. But in China, it's hard to do so.

One thing we need to know is that, China doesn't have eco-friendly based zoning laws. Therefore, government has the ability to gut the market with new lands on its whim. China doesn't have real land shortage. There is a fundamental difference between US property market and that of China's.