Downturn hits Shanghai realty
By Wang Ying | China Daily | Updated: 2008-09-19 08:06
|
Apartment models at a real estate exhibition in Shanghai. Shao Chang |
SHANGHAI: The nation's most resilient real estate market is starting to show signs of weakness, with several developers slashing prices in prime downtown locations by up to 5,000 yuan per sq m.
The 29 units at the Zhongyuan Liangwan Cheng development in the Putuo district were discounted by 7,200 yuan per sq m, selling for an average of 13,842 yuan per sq m, according to property researcher Uwin.
Photo
