The just concluded Shenzhen Spring Property Fair saw the effects of higher prices. There were fewer visitors, and most are taking a wait-and-see attitude.
Developers say they sold less than 50 of the 200 units. Transactions are down 10 to 20% from last year.
CCTV quoted Zheng Yinghua, a Real Estate Agent who said ‘Home buyers are now more rational. They pay attention to the property’s overall conditions, added-value, and investment potential. And they are now more sensitive to price.’