Residential towers are seen in Shenzhen, the wealthiest city in southern Guangdong province. Photo: Reuters
Bad news for Shenzhen housing speculators as officials steer home prices below market levels
- Shenzhen recorded a 48.4 per cent jump in prices over the past two years in February, outpacing gains in major Chinese cities
- Some banks are said to have adopted the city’s reference prices for lived-in homes, potentially squeezing mortgage loan valuations and chilling demand
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Shenzhen
Residential towers are seen in Shenzhen, the wealthiest city in southern Guangdong province. Photo: Reuters