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From: energyplay7/28/2010 11:00:32 PM
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Shanghai and Beijing property prices - anecdote is not data -

businessinsider.com

Note that since these stories come from China Daily, this may be an official attempt to "talk down" or throw a bucket of cold water on the housing price boom.

from the earlier Beijing story -

Vincent Fernando, CFA | Jul. 27, 2010, 5:33 AM

Chinese property companies have slashed selling prices by 15% in Beijing, in a bid to spur buying demand according to Chinese real estate research firm Centaline.
China Daily:
Shanghai-headquartered Shimao Group just launched an upscale residential project called "Royal Garden" in Beijing's Central Business District area at a price of 65,000 yuan per sq m. The average price of similar projects nearby has been close to 70,000 yuan per sq m.
"We've taken the impact of tightening policies into consideration and are offering competitive prices even in a sluggish market," said Xu Shitan, executive director of Shimao Group.
"Without the market adjustment, we'd price these units above 80,000 yuan per sq m."

Read more: businessinsider.com
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