Shanghai property boom fading away

The real estate boom seems to have petered out in Shanghai with sellers outnumbering buyers as more and more investors look to exit the sector that triggered the economic crisis.

The buzz of activity associated with growing global investments in the region is slowly abating as foreign real estate acquisitions in 2008 have declined sharply.

Foreign acquisitions totaled 16 billion yuan in 2008, down 26 percent from 2007 and 12 percent from 2006.