House prices to fall?

House prices to fall?
Jan 15, 2008 01:46
KATRINA Points: Join Date: Nov 29, 2004 Status: offline	According to the data, the week turnover of houses in the property market in the first week of 2008 started to decrease and house prices in cities fluctuated drastically. Compared with the turnover in the last week, it decreased at least 20 percent. In Hangzhou, only 193 houses were sold out, decreasing about 63%. The house prices in Beijing and Shenzhen also dropped. Not long ago, a developer said that the turning point in property market is likely to come. That means house prices will start to drop. When interviewed, some consumers also said that they would just wait for the drop and had no plan to buy their house in 2008. It seems that the turning point in property market is really coming. What do you think? The turning point is coming or not?

Jan 15, 2008 01:46

KATRINA
Points:
Join Date: Nov 29, 2004
Status: offline

According to the data, the week turnover of houses in the property market in the first week of 2008 started to decrease and house prices in cities fluctuated drastically. Compared with the turnover in the last week, it decreased at least 20 percent. In Hangzhou, only 193 houses were sold out, decreasing about 63%. The house prices in Beijing and Shenzhen also dropped. Not long ago, a developer said that the turning point in property market is likely to come. That means house prices will start to drop.

When interviewed, some consumers also said that they would just wait for the drop and had no plan to buy their house in 2008. It seems that the turning point in property market is really coming. What do you think? The turning point is coming or not?

Feb 25, 2008 11:48

GUEST15199

We are Real Estate Advisor to China, as for dropping prices..yes but only in the large metro citys like Beijing, Shanghai, Shenzhen, GZ for example where condo and house has been overbid by many. These luxury condo ranging from 10K/sq meter to 20K/sq meter will definitely come down. However, in many other cities where less tourism and locals live prices are still growing like Wuhan, Chengdu, Xian and many other.

Mason Ma
email: yahoo.com|kickin8888

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