According to J.P. Morgan’s latest real estate survey in Shanghai, Shenzhen, and other areas, there are some surprises:


1. The higher the price, the slower the sales; sales above 20 million are strong and clearly rebounding, while those between 5 million and 10 million are not selling well.
2. Nanshan and Futian in Shenzhen are clearly rebounding, while other areas are still declining, showing obvious differentiation.
3. New homes in Shenzhen and Shanghai—especially luxury properties—are selling extremely well. In Shenzhen, they looked at the Guan Chao project in Bao'an, and in Shanghai, they looked at An Lan Shanghai.
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