Chinese land prices have fallen across China already, but property prices in top-tier cities are teetering on the brink of something worse, according to Standard Chartered:
Standard Chartered has told clients to prepare for a fall in property prices of up to 30pc in Beijing, Shanghai, Shenzen, and other large cities in China as the delayed effects of monetary tightening begin to bite.
Stephen Green, the bank’s China economist, said a glut of newly built homes were hitting the market just as buyers are restrained by higher down-payments and curbs on speculation. “We believe developers will be forced to cut prices,” he said.
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