25% drop in property prices reported

17 May

I’ve made a lot of noise recently about the fragility of the Chinese real estate market

Here are two recent posts:

Any Xie on his friend’s home-help buying real estate:

https://ravendragon.wordpress.com/2010/04/26/whats-the-word-on-the-street-johnny/

Discussing the decline in the Chinese real estate index:

https://ravendragon.wordpress.com/2010/04/21/leading-the-way-or-just-pretty-charts/

Well according to a report today by Shanghai Securities News, second home transactions in Beijing fell 81.7% in the first half of May, compared with April – that’s a massive drop!

In addition, according to a Shanghai based news paper, prices in home areas of the capital have fallen by 25%.

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