Decreasing prices for property in Shanghai was 19,5% 16.12.2008
Construction market in case of its failure could slow down the development of Asian countries and has negative influence in general for world economic.
Prices for property in three centers of China – Shanghai, Shengene and Guangou – are falling. In the third quarter of the current year the decreasing of prices in Shanghai was 19,5%. Such tendencies are on the city Shengene and Guangou.
In general in the country the bulks of construction of residential and commercial property decreased on October on 16,5%. For the same period 2007 was the growth on 32,5%.
For construction industry of China is about fourth of all investments in the country. Its fall will cause the growth of unemployment and investment crisis and also will cased the decreased in other areas. It will negative influenced for bulks of China export and for those countries which depend on it, first of all – Taiwan, South Korea and Japan.