Shenzhen’s housing market downcycle ‘has begun’ after cooling measures as banks tighten mortgage lending

//Shenzhen’s housing market downcycle ‘has begun’ after cooling measures as banks tighten mortgage lending

Shenzhen’s housing market downcycle ‘has begun’ after cooling measures as banks tighten mortgage lending

Shenzhen is showing some early signs of success in containing runaway house prices in the technology hub after 13 rounds of market-cooling measures since last July, repairing its reputation as a model city envisioned by President Xi Jinping.The city recorded 270 units in home sales during the recent Labour Day from May 1 to 5, or about 20 per cent lower than the volume during the same holiday season last year, according to data compiled by Midland Realty. Some 724 units were transacted during…

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By | 2021-05-12T00:30:09+00:00 May 12th, 2021|Business|Comments Off on Shenzhen’s housing market downcycle ‘has begun’ after cooling measures as banks tighten mortgage lending