China’s home sales about to fall off a cliff as coronavirus forces shutdown in sales offices

From scmp.com

China's residential property market has come to a standstill as sales offices are ordered to shut amid the coronavirus outbreak. Some agents are bracing for a slump in sales of as much as 80 per cent this month. “We sell 200 to 300 lived-in homes on the secondary market but now we basically have zero transaction,” Wang, a Shenzhen-based agent with one of China’s largest real estate agencies, said by phone. He declined to give his full name. “Even if you want to view, most housing estates have barred visitors from their grounds.” The agency focuses on the Futian district in Shenzhen, where non-essential ... (full story)