Photo:CFP

Discounted Prices for Hangzhou Real Estate
Property, page 47
Developers in Hangzhou have resorted to slashing prices to boost a slowing real estate market, with some offering up to 30% discount. Developer Vanke took the lead in offering discount since early September and a dynamo effect took root, with one after another developer followed suit. While eager new buyers queued overnight for cheap units, old house-buyers who had paid higher prices for similar units earlier were protesting outside real estate sale office.
Original article: [Chinese]