Daily news and Commentary on the Chinese Real Estate sector
Wenzhou home prices suffered up to 40% drop
Jun 14, 2012
- In stark contrast to the housing market recovery in most cities, Wenzhou home prices seem to dampen investor sentiment.
- There's been a slight recovery of Wenzhou housing market between January and March, but second-home sales volume dropped 35%-40% in April and showed no improvement at all in May, a stark contrast to the significant sales growth in most cities in April and May.
- As a third-tier city, second-home sales account for over 50% of home sales, a similar manner as first-tier city. Wenzhou is full of investors and housing bubble is inflating.