Towards the end of June, the average price of second-hand homes in Shenzhen stood about 15 per cent below a peak recorded in January this year. Photo: AFP
Towards the end of June, the average price of second-hand homes in Shenzhen stood about 15 per cent below a peak recorded in January this year. Photo: AFP

Shenzhen homebuyers look forward to cheaper apartments after city lowers cap on land and home prices

  • The city’s government has cut its asking price for 22 lots of land by US$1.9 billion
  • Intervention is being viewed as signalling a swing away from a market-driven housing sector to one that is controlled by the state

Topic |   China property
Towards the end of June, the average price of second-hand homes in Shenzhen stood about 15 per cent below a peak recorded in January this year. Photo: AFP
Towards the end of June, the average price of second-hand homes in Shenzhen stood about 15 per cent below a peak recorded in January this year. Photo: AFP
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