Shanghai Home Prices Falling

The real estate slowdown in the first-tier has reached Shanghai. Luxury apartment prices have stabilized and now there's news of a home being slashed from 17.5 million to 15 million, or 14 percent.

In Beijing, May existing home sales are at the lows of 2016, and prices are starting to come down 3 percent to 5 percent according to brokers. The same price trend is seen in Shanghai. Shanghai brokers say about 20 percent of homeowners are willing to cut prices. Traffic is still strong on the weekends, but a larger share of customers are making inquiries, not buying.

The rate of increase in existing home prices is expected to decline moving forward.

iFeng: 一线楼市现反转 上海市有房价格直跌达250万

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