Shanghai's property prices may fall as much as 10% this year as the government prepares to roll out tightening measures to cool the overheated market, according to consultancy Colliers International.
Policy adjustments on the supply of land and monetary tightening will weigh down the red-hot market amid mounting anger over soaring housing prices.
"The upsurge has run out of steam," Lee Hingyin, a director of research and advisory with Colliers, said yesterday. "After all, it is a policy-driven market."
South China Morning Post