it's a great time to buy in China!

edited April 2008 in Housing Bubble
Unbelievable! The deals on Chinese real-estate are better today than they've been in a long while. Hurry, buy now before the prices shoot up again!
In Shanghai, for example, many developers have retained the list price for units but are offering "rebates" which can take 10% or more off the purchase price. Numerous units are being held off the market in the hope of a recovery. Worst affected are the big cities of southern China, notably Shenzhen, which only a year ago was an extremely hot market. The average price of flats in the city has fallen by 28% since October. There are reports that the value of some may have dropped by half, a decline on a par with some of the worst-hit parts of America. The areas around Beijing have been more resilient but the rate of appreciation has clearly slowed.

http://www.economist.com/finance/displaystory.cfm?story_id=11024351
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