27.06.2011 - Housing boom in China now spreads to smaller cities
Chinaís property boom is shifting from Beijing and Shanghai as government measures to curb the market havenít kept prices from rising in secondary cities. New home prices rose in 67 of 70 cities in May led by smaller centres as developers hold off price cuts, even as existing home prices cool following higher interest rates and down-payment requirements. Standard & Poorís on June 15 cut its outlook on Chinese developers, echoing concerns of a property bubble aired by bears such as hedge fund manager Jim Chanos...............................................Full Article: Source
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