Dongguan Home Prices Begin to Fall as Shenzhen Buyers Retreat

iFeng: 深圳客撤离东莞房价开始回落 楼市八年一轮回

Last week, Dongguan week-on-week transactions dropped almost 50%, the property market cooling. From the first half of last year Shenzhen buyers made inroads into the market in Dongguan, one year later Shenzhen launched the "3.25" market policies, Dongguan market is cooling, Shenzhen buyers gradually evacuated. This situation is similst to 2007-2008 - at the time Shenzhen investors poured into Dongguan, which drove prices higher for many months, then under the influence of restrictive policies and market cooling Shenzhen buyers withdrew, Dongguan home prices fell.

Prices are falling sharply for some developments, but a city wide rise is still being recorded by at least one real estate agency:

However, by cooling the property market, Shenzhen customer evacuation, the main city in April, house prices have begun to fall. Wan Jiang Xinhong Lan shore at the end of March, pushing cargo quoted at 12,000 yuan / square meters, the contract price in recent days about more than 10,000 yuan / square meter. And an even greater change in second-hand housing market, Xiping era of King Lake City in March how Suite trading unit price of 18,000 yuan / square meters, but in April house prices down to about 1.3 yuan / square meter.

However, the overall market, due in May, Metro Line 2 opened to traffic, the main city traffic stimulated housing prices, the main city of the overall housing prices continued to show a rising trend. Hopefluent Dongguan market research statistics show that last week, the main city new home prices rose by 6%, compensatory growth.