Shanghai property values plunge, recent buyers protest
Article written by Prieur du Plessis, editor of the Investment Postcards from Cape Town blog.“Property values in Shanghai are plunging as developers lower their asking prices in an effort to sell into a weakening housing market,” reported NTDTV. “It’s good news for some, suggesting efforts by authorities to cool the overheated housing market are working. But recent buyers are outraged as the value of their investments fall, sometimes by more than 25%.“China’s property market is slowing and developers are slashing prices to sell new apartments. It’s angering those who bought property in the same building at higher prices.“The price drop suggests measures by authorities to cool demand – such as cutting bank lending and limiting the purchase of second homes – are working. But some like investment bank UBS are predicting the property market will undergo a ‘hard landing’ in the next few years, according to the Washington Post. That would have major ramifications for the Chinese economy.”Source: NTDTV (via YouTube), October 26, 2011.Did you enjoy this post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail.Shanghai property values plunge, recent buyers protest was first posted on November 2, 2011 at 10:50 am.©2011 "Investment Postcards from Cape Town". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is guilty of copyright infringement. Please contact me at wordpress@investmentpostcards.comFeed enhanced by the Add To Feed Plugin by Ajay D'Souza
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