Chinese "Eighth Wonder of the World" will soon become another ghost town

In China, in the middle of a tropical sea there is an artificial island called Phoenix. Its construction cost a hefty sum, as it was necessary to expand and connect existing ones on the coast of reefs and islets. On the island were built luxury skyscrapers, reminiscent of a sail, defeated the park, outdoor shops and sports fields - in short, all the conditions for comfortable life.





At the very beginning the project has received the unofficial title of "the eighth wonder" of the modern world and the most ambitious project of the last decade. In 2010, the year property prices on the island of Phoenix reached $ 2200 per square foot, and despite the high price, it bought a lot of apartments. However, over the last year property on a wonderful island has fallen sharply in price - cost of square feet are now rarely exceeds $ 1 200.





Now the island there is no one except the staff - in the fashionable area already fully completed, no one lives. The owners are forced to sell their luxury apartment in skyscrapers overlooking the sea for a pittance to pay off loans for their own gain. Perhaps the reason that "man-made paradise" was no use to anyone - in features, though rapidly growing, but still insufficient balanced Chinese economy.













via factroom.ru