Shenzhen Real estate Plunge Forcast

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Sales of residential houses in the southern city of Shenzhen are forecast to plunge this year to the level 10 years ago as homebuyers and investors continue to adopt a wait-and-see attitude as prices nosedive.

"Prices are expected to drop another 10 per cent as some struggling small- and medium-sized real estate developers and speculators are selling properties for cheap to maintain cash flow," said Song Ding, a senior real estate analyst with China Development Institute.
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