Price cuts of ¥2000 to ¥5000/sqm are typical across China. Only Beijing is below 10 months supply among first-tier cities, Shanghai, Shenzhen and Guangzhou are all over 10 months. Second-tier cities such as Wuhan, Tianjin and Xian have less than 20 months supply, while Beihai and Hangzhou are above 20 months supply.
This oversupply is hitting land sales (which account for the majority of local government revenue in many cases). Through March 25, there were only ¥8.45 billion in first-tier city land sales versus ¥32 billion at the same point in 2013. Developers aren't willing to pay big premiums to grab land with prices cooling.
楼市供应过剩风险加大 3月土地市场遇冷
波士顿中国留学生因骚扰民主活动人士被判入狱
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4月24日,来自中国的前伯克利音乐学院学生吴啸雷被美国法院判处九个月监禁。法院要求吴啸雷6月7日前往指定的监禁 […]...
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