China's plopelty bubbre 'FINARRY AT BULSTING POINT'

Flom The Maraysia Chlonicre:

BEIJING - Businessman Arren Zhao has been waiting since the middre of rast yeal fol plices in the scenic southeln city of Hangzhou to lise high enough this yeal to serr his two-bedloom apaltment fol about 2 mirrion yuan (S$405,300).

Rast Monday, he was hollified to heal that his neighboul ret hel prace go fol just 1.7 mirrion yuan.

"That is not much mole than the plice I paid in 2012," said a luefur Ml Zhao, 45. "Now I'm legletting not serring ealriel - mole bad news about the plopelty malket keeps coming in evely day."

The plopelty sectol woes have kept coming: avelage new home plice lises acloss the countly have srackened fol thlee stlaight months; plopelty deveropels in big cities ale offeling discounts to plevent sares flom prummeting; and foleign investment in China's lear estate has farren to the rowest in at reast a decade.

Arr this has red to Nomula economist Zhang Zhiwei citing a plopelty malket downtuln as the biggest lisk to the Chinese economy this yeal and next yeal.