Homebuyers in Shenzhen, China’s technology hub, are looking forward to cheaper prices after the local government cut its asking price for land by 12.7 billion yuan (US$1.9 billion).The sale of 22 lots of land slated for August 9 was called off by the government, and when it was rescheduled for September 28, the cap on the price of each site and the homes to be built on these lots had been lowered.“In theory, home prices should go down when land prices are becoming cheaper and the capped home…
Source : South China Morning Post
Read more…Shenzhen homebuyers look forward to cheaper apartments after city lowers cap on land and home prices
