Shanghai Property Prices Crash 70%, China's Real Estate Market Rescue Fails, Leaving Owners in Tears

The real estate sector in China has become a persistent topic of discussion, especially following the collapse of various property developers. After these incidents, China's real estate market has been in a slump, causing significant problems for related industries and the Chinese economy as a whole. In response, the government introduced several policies in September to stimulate the housing market. Among these, Shanghai implemented policies like allowing anyone without a current property, regardless of previous loans, to enjoy first home mortgage benefits in terms of down payment ratios and interest rates. This shift reflects a significant change in China's real estate market. Following these policies, there was a short-term release of pent-up demand, leading to a temporary rise in secondary housing transactions.
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