Once Hot Hefei Home Prices Down 50pc

Home prices in Hefei are down 15 to 20 percent, with some individual properties down as much as 50 percent.

In the second half of last year, especially after October 2, Hefei launched the "history of the most stringent purchase order", the real estate market quickly by the hot state of hot and cold into the cold, the price continued to fall, the volume shrinking. According to real estate intermediary, the current Hefei housing prices generally fell 15% to 20%, individual residential prices actually showed a 50% straight down, the price was cut.
Financial speculation was rampant and now gone. Some investors didn't even care about speculating on the home price, they used the property as a way of taking money from the bank:
Wang Tao said that they did many batches of business last year, including a "real estate group" is from Zhejiang over, four individuals to form a team. Behind a few companies to sponsor some of their funds, used to pay real estate first payment, earned money and then split into proportion. At that time, they suddenly had 20 sets, so that intermediaries to help calculate the down payment, can figure out how much money they can get from the bank. They don't care about the quality of the house, they just want to find a house with large floorspace, so that you can borrow more money from the bank, this kind of "financial speculation" is barely legal.

This type of "real estate group" mostly do not need their own money, if done well, but also more sets out some money. He remembered very clearly, there is a "financial speculators" through this way, after some operation after more than 200,000 cash.
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