Migrants rushing to megacities pushing up housing prices there

A RECENT SURVEY shows that metropolises like Beijing and Shanghai have seen the inflow of millions of migrants for the past several years. That coincides with the realty prices in these cities, offering some food for thought about the realty market, wrote Ye Tan, domestic economic columnist:

From 2009 to 2014, Shanghai saw an inflow of 5.04 million people. And 3.96 million people flowed into Beijing, 2.88 million into neighboring Tianjin, 2.75 million into Guangzhou, capital of South China's Guangdong province and 1.99 million into Dongguan in the same province.

These were the top five on the list of mainland cities that had the largest population inflows during this period, and proves the absurdity of the once popular assertion that people are trying to get away from the big cities.