Surging home supplies, less transactions, worried sellers, wait-and-see buyers... real estate markets in China's top-tier cities are feeling deeper chill these days.
Home supplies in Beijing, Shanghai, Guangzhou and Shenzhen surged in the first 10 months this year as developers are getting desperate for cash, while home demand are getting weaker due to continued restrictions on home purchases, tightening lending and strengthened expectation for declines of home prices.
The data from China Index Academy shows that in Beijing an average of 1.03 million sqm floor space was put on sale each month of the third . . .
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