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China's property market continued to show signs of cooling as home prices fell or posted slower growth in major cities amid tough control policies.
Prices of residential sites in Asia increased by 1.9% in the first half of 2016, down from 2.8% in the preceding six months.
China will cut the minimum downpayment for some home purchases in smaller cities in a bid to revive the sluggish property market and a slowing economy.
China’s property bubble is bound to burst as the government’s efforts to clear the pile-up of unsold flats is unlikely to work, say market experts.
This year, the annual China Property Awards will be presenting the prestigious Real Estate Personality of the Year 2015 to Dr Allan Zeman, chairman and founder of the Lan Kwai Fong Group.
Hong Kong billionaire Li Ka-shing is shifting away from a slowing Chinese economy and bargain hunting in Europe.