Shenzhen Real estate Plunge Forcast

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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