China’s Housing Market Doomed! Developers Slash Prices by 70%, Former Owners Riot at Sales Offices
China’s Housing Market Doomed! Developers Slash Prices by 70%, Former Owners Riot at Sales Offices
Udumbara
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Recently, Guangzhou’s real estate market has taken a sharp downturn. Since the end of last year, many developers have been offering year-end clearance sales to recover funds, introducing unprecedented discounts. Some properties are being sold at as little as 30% of their original price. This steep markdown has caused a stir in the housing market, drawing crowds of buyers rushing to sales offices, thinking they’ve finally found the perfect opportunity to buy a home.
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