Shanghai Housing Market Crashes! Landlords Lose 5 Million Yuan, 300,000 Homes for Sale, No Buyers
Shanghai Housing Market Crashes! Landlords Lose 5 Million Yuan, 300,000 Homes for Sale, No Buyers
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Speaking of homeowners selling their properties, recently, in a high-end neighborhood in Shanghai’s Jing’an district, a property was listed at a “fire-sale” price. The homeowner, Ms. Xi, bought this 180-square-meter flat for 25 million yuan in 2019. Now, six years later, she’s dropped the price to 20 million yuan, willing to take a 5 million yuan loss just to sell. Even with this drastic price cut, after a month on the market, only three potential buyers have viewed the property, with the highest offer being only 18.5 million yuan.
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