House prices in China have been growing really fast due to the amazing GDP growth of the country. I've been reading though that whilst there are so many buildings being built, it's mainly due to the fact that people are wanting to buy them in order to sell them later and that in actual fact, none of these buildings are being rented out, because so few people can afford to live in them.
Is there any truth to this? Can anyone offer any evidence? The Chinese government I would assume would be keeping pretty tight lipped about any research suggesting that there is a property bubble, so is all the evidence purely anecdotal?