Shenzhen Homebuyers Abandon Deposits, Walk Away

Some homebuyers in Shenzhen have abandoned home purchases and lost their deposits on new homes due to the down payment rising. Although some buyers say it is because they cannot come up with the extra 10 percent for a down payment, others believe it is because the speculators expect home prices will drop:

"Buyer's request to terminate the contract in the amount of consultation is indeed increased, especially after April 1 hand housing transaction assess prices rise, the situation is more common." In the real estate industry for many years a lawyer Guangdong Xin Rong Law Firm, said director Zhang Maorong the buyer defaults in practice there are also a variety of situations, one just need the buyer does not assume more than one percent down payment, and the other is with the ability to pay of buyers expect prices will fall due to intentionally aid the New Deal abandon the purchase. "This is where I personally think that the buyer did not want to continue to buy more is based on expectations of falling house prices."

Sina: 深圳限贷升级楼市违约现象抬头