Real estate developers in two cities have greatly discounted home prices, provoking the ire of buyers who paid full price and adding to concerns over the health of the market, especially in smaller cities, Caixin reported. Units in at least two residential complexes in Hangzhou, Zhejiang province, have been discounted by up to 20%. Homebuyers who bought units before the promotion swamped sales offices over the weekend, demanding the developers refund the difference. In nearby Changzhou one complex was discounted by 40%. Opinions are mixed over whether other developers will follow suit and trigger a collapse in home prices.
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