Personal View site logo
Make sure to join PV on Telegram or Facebook! Perfect to keep up with community on your smartphone.
Please, support PV!
It allows to keep PV going, with more focus towards AI, but keeping be one of the few truly independent places.
China: Housing prices in Shenzhen started to fall fast
  • Shenzhen should be one of the most difficult cities to buy a house. According to data, the housing price-to-income ratio in Shenzhen has exceeded 40. Under such circumstances, ordinary people can only afford a house if they save money all the time from the beginning of their work to retirement age. Because since the end of 2019, the housing prices in Shenzhen have been rising, and then they rose so much so city took first place in the country. Even at the beginning of this year, the average housing prices in Shenzhen once exceeded 90,000 yuan! But recently, the housing prices in Shenzhen have dropped significantly.

    According to data from China House Price Market, the average house price in Shenzhen in October was only 65,724 yuan per square meter, ranking third in the country. As the housing price is still very high, but compared with the price of over 90,000 yuan in Shenzhen at the beginning of the year, the price is already much cheaper. So the question is, as a first-tier city with strong economic strength, why did Shenzhen's housing prices fall so drastically?

    In my opinion, the very important reason why housing prices in Shenzhen will appear is the guiding price policy for second-hand housing. Since Shenzhen issued a document on February 7 to establish guidance prices for second-hand houses in more than 3,000 communities in the city, the price of second-hand houses in Shenzhen has fallen sharply. It is said that the prices of some residential areas have fallen by almost half compared to the previous ones. Under such circumstances, it is normal for the housing prices in Shenzhen to fall to more than 60,000.

    https://baijiahao.baidu.com/s?id=1715840767601834857&wfr=spider&for=pc&searchword=%E6%B7%B1%E5%9C%B3%E6%88%BF%E4%BB%B7%E4%B8%8B%E9%99%8D