MEASURES introduced by the Shenzhen government last year to revitalise its struggling property market are working, mayor Li Zibin says.
He said sales in the market, suffering from falling demand and a glut of office space and high-rise flats, had picked up slightly.
Between 4,000 and 5,000 flats have been sold since October last year.
'The situation will improve this year and become even better next year,' Mr Li said.
He said the property slump in the special economic zone had dragged on for three years.
'Property sales were limited and prices did not drop much,' he said.
'Developers kept building because they believed there was a demand for residential and office space.' Mr Li was confident government measures would assist a recovery.
