Recently a sign of price decline appeared in Shanghai house market, even some luxury apartments in the city centre. Under such a situation, potential buyers decided to wait and see before making the purchasing decision.

Many potential buyers in Shanghai are expecting a further decline after the drop in Shenzhen housing prices, declining by nearly 30 percent in the first half. It is showed by the statistics from China Real Estate Index Academy that in Shanghai house market there is a sales drop of 27.6 percent from last year to 8.85 million sq m while a rise of 7.26 percent in housing price.

Hu Yinghua, a researcher at China Real Estate Index Academy, said that Shanghai’s real estate market was going through a mild revision period with the government attempting to maintain the property price stable with no fierce fluctuation.

Chen Wei, senior directors Read more…

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crisis, decline, house, selling, Shanghai