Property frenzy cools in Shenzhen as buyers stay away from new launches

The chill sweeping through China’s housing market is being felt in Shenzhen, China’s Silicon Valley. There are few takers for houses in the once red-hot market as buyers are watching from the sidelines since the start of this year.The 353-unit Shangjing, the year’s first launch on January 2, has been the biggest flop. The developer Anhui Anlian Express has sold only one home in the project in the city’s southwestern Guangming district in the past two weeks, according to agents tracking new home…

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