Shenzhen Existing-Home Prices Fall Back to Earth

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High-rise residential buildings under construction in Shenzhen’s Bao’an district on March 7, 2022.

China’s housing bust is finally starting to weigh on existing-home prices in Shenzhen, one of the nation’s most expensive megacities.

Pre-owned housing prices in the southern metropolis fell by nearly half from their peak in 2020 after holding up over the past two years of plunging new-home values amid slumping demand and a liquidity crunch for developers.

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