April 8 (Bloomberg) -- Chinaâs property market is a bubble that may burst by as early as this year, according to hedge fund manager James Chanos. The worldâs third-biggest economy may need to keep up the pace of property investment because up to 60 percent of its gross domestic product relies on construction, said Chanos. The bubble may begin to ârun its courseâ in late-2010 or 2011, he said in an interview on âThe Charlie Rose Showâ that will air on PBS and Bloomberg TV. China is âon a treadmill to hell,â said Chanos, who said in January the nation is Dubai times a thousand. âThey canât afford to get off this heroin of property development. It is the only thing keeping the economic growth numbers growing.â Property prices in China rose at the fastest pace in almost two years in February even after officials this year re-imposed a tax on homes sold within five years of their purchase to curb speculation and ordered banks to set aside more funds as reserves to cool lending. The boom in Chinaâs real estate has fueled concern that China may face a collapse seen in Dubai that has hurt the ability of some of its companies to repay debt. Since his January prediction, Chanos, the founder of Kynikos Associates Ltd, has been joined by Gloom, Doom & Boom publisher Marc Faber and Harvard University professor Kenneth Rogoff in warning of a potential crash in Chinaâs property market. http://www.bloomberg.com/apps/news?pid=20601109&sid=an0ehK2dtdXg&pos=11 Jim, Marc, Kenneth. Trio infernale.