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China’s housing prices to drop 10 pct

Posted on 31 May 2011

Peking University Guanghua School of Management (GSM) Real Estate Association held a summit forum on the development of China’s real estate on May 29. Experts and scholars believe that this year China’s housing price will drop by 10 percent to 15 percent.
Nie Meisheng, chairman of China Commercial Real Estate Commission (CCREC), says that last year’s housing price started to stabilize in July, while it rebounded in August. The housing prices of Beijing, Shanghai, Guangzhou and Shenzhen— the four major cities of China — rose by 20 percent……………………………………….Full Article: Source

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