China Property Slowdown Stings Agents
Many investors are sitting tight, waiting for government restrictions to ease. "I regret not selling my apartment in Xintiandi earlier, when prices were much higher," said one property investor from Wenzhou, a prosperous city in Zhejiang famous for its real-estate speculators, who gave his name only as Mr. Fang. Apart from his apartment in Xintiandi, one of Shanghai's ritziest neighborhoods, Mr. Fang says he owns at least 10 other properties in the city.
This gambler, and many many others, are confident the government will bail them out, policy-wise or otherwise.