Potential homebuyers in China are waiting on the sidelines, hoping for better deals.New data suggests a break in prices might be coming.In July, China’s top 10 builders recorded a month-on-month fall of 80 billion yuan (US$11.4 billion) in total contracted sales, due to a combination of a slowdown in the economy and government policies to clamp down on their debt.The biggest plunge among them was 58 per cent. The top 100 developers saw an average fall of 29 per cent.The question is whether…
Source : South China Morning Post
Read more…China home buyers wait for better deals as developers see big drop in contracted sales in July amid economic slowdown