China real estate...bubble bursting?
Submitted by DavidSZ on Mon, 2007-07-30 13:54. :: Things Chinese
A Daily Sunshine report yesterday said that by July 26, the average price of the city’s new properties had fallen to 13,830 yuan (US$1,820) per square meter from June’s 14,800 yuan, after three consecutive weeks’ decline, in a sharp contrast to the continuing surge in house prices of the previous five months.
The biggest fall was registered in Futian District, where new properties were sold at an average 20,006 yuan per square meter, down by 24.6 percent over last month.