Property News · August 30, 2019

Shenzhen homeowners seize building collapse opportunity to make a quick profit, raise prices by 20 per cent


One would expect a building collapse to be disastrous for home prices. But in Shenzhen prices have zoomed up instead.Homeowners in a residential estate in the southern Chinese city where a building collapsed on Wednesday morning raised their prices by nearly 20 per cent within 24 hours of the incident, betting buyers would be willing to pay a premium in the hope that the entire estate would be razed and redeveloped.A block of flats in the Heping Xinqu residential estate in Louhu district…

Source : South China Morning Post
Read more…Shenzhen homeowners seize building collapse opportunity to make a quick profit, raise prices by 20 per cent

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