Shenzhen Daily: Real estate sell-off in fear of crisis

A GROWING number of Hong Kong investors are selling their Shenzhen properties at prices 50 percent lower than the market peak of 2007, fearing the economic crisis will continue to worsen.

Official statistics show that property prices of new-releases and second-hand apartments have plummeted by as much as 50 percent compared with the beginning of the year, while transactions have been slowing since September last year.

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