Beijing’s real estate sales have significantly dropped as housing price continues to soar. Statistics show that sales were down 54 percent in August despite various promotional plans introduced by developers. Buyers are holding off the buying decision hoping prices will drop. Some experts predict that October will bring the volume of sales back up if there is a lucrative discount offered.
Source: China News, September 18, 2008
http://www.chinanews.com.cn/estate/gdls/news/2008/09-19/1386889.shtml