How to escape China’s property crisis

Getting into Jinjiang Ode is a little difficult. The luxurious property development in central Chengdu will not allow potential buyers through its 4m-high palatial gates without an appointment. Even finding out about the project in the south-western metropolis, home to 16 million people, is tricky.

The firm behind it is so confident of demand that it does not deign to advertise the flats – a confidence which is not unjustified. Chengdu has a distinct, laid-back atmosphere epitomised by its public tea gardens, in which patrons spend hours sipping hot beverages and having their ears cleaned. The leisurely pace of life and tongue-numbing local cuisine appeal to younger Chinese people, who have come in droves in recent years, says Mr Zhang Xiaojun, a sales agent at the development. Many of them buy homes.