Shanghai’s Real Estate Market Hit Hard By Coronavirus Outbreak

In the case of prices falling significantly, Evergrande also committed to matching lower prices at least through the end of May., with an estimated net worth of $28 billion, is the third richest person in China.... [+]

“Before the virus we had a forecast of [price growth] for first tier cities in China of about a 3% to 5% increase,” says Martin Wong, Knight Frank’s associate director for research and consultancy, Greater China, who spoke by phone from Hong Kong. “Then after the virus, because we saw transactions going down, we revised our forecast to a 0% to 2% increase. Temporarily prices will go down but the demand for first-tier cities will still be strong because of fundamentals.

“We look at first tier cities because they are more stable,” says Wong, also noting how rare it is for Knight Frank to change their forecasts during the year.... [+]AFP via Getty Images

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

As The Coronavirus Spreads, It’s Not Business As Usual For Real Estate AgentsAs the spring selling season gets underway and the number of coronavirus cases rises across the United States, some real estate agents are in the delicate position of forgoing common practices such as holding open houses or even shaking hands. Why not? Normal flue is far more dangerous the corona.
Source: Forbes - 🏆 394. / 53 Read more »