| China’s real estate market might not have developed into the kind of credit fueled bubble that toppled the US economy in 2008, but general consensus, even from the China bulls, is that the property market is overheating and due for a correction.
According to China’s leading real estate information website SouFun.com, Beijing’s new home prices fell considerably in May compared to the same period a year ago. The average price of a newly constructed unit dropped to 23,467 yuan ($3,400) per square meter, down 7.2% from April and down 21% from May 2010, according to SouFun.com..............................................Full Article: Source |