Home buyers in Shanghai angry at massive price drops, smash offices

Dropping Real Estate Prices Draw Protests
"My house's value has dropped by as much as one-third, and we have lost some 10,000yuan," a homeowner surnamed Yang told Shanghai Daily.
The price drop occurred for advance sales, not existing apartments. People demanded refunds or rebates. When they didn't receive any, they smashed up the office of China Overseas (0688.HK). Prices for similar apartments in Shanghai are off 25 to 30%, based on the examples in the article.

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