Changing: No longer a market for sellers

country-wide have been lower than the level two years ago. Construction and investment recover mildly and slowly, so even if the real estate market sees pressure, it would not decline as it did two years ago,” said Wang.

Real estate agents said they have observed that both homebuyers and pre-owned apartment sellers are becoming more “rational”.

“Buyers and sellers have both sensed that the market situation is changing. Policymakers want to squeeze out bubbles and cool down the overheated market, and have discouraged many speculative buyers. Only those with a genuine need are looking to buy now,” said Luo Chuanhu, Shanghai-based agent with HomeLink Real Estate.