Businessmen from the city, one of China's wealthiest, are well known for their speculative activities in various sectors, especially the property market.
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"Compared with the housing price for 2009 and 2010, when it rose to the peak of about 60,000 yuan per square meter for certain luxurious apartments, the average price of those is now about 35,000 yuan, a decrease of nearly 50 percent," said Ding Yi, a developer of luxury homes in Wenzhou.
Wednesday, December 5, 2012
Wenzhou prices down 18% Year on Year
Wenzhou's house prices drop 18% in Q3 Largest fall in the country.