Shanghai’s real estate market collapses overnight/ The largest drop in China!

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A few years ago, the real estate market in China's first-tier cities was considered the most resilient. However, in the past year or two, the situation has reversed. Both sales volume and prices have declined in major cities, making them the fastest-declining regions in China in terms of housing prices and the most significant contraction in sales.

Take Shanghai, for example. In August of this year, new residential sales volume fell 27% month-on-month and 45% year-on-year. The once-prosperous Shanghai has become the leading city in decline. As waves of layoffs and unemployment sweep across the country, an increasing number of homeowners are struggling to sell their homes.

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