According to an article in the discussion forum on the website of gz.focus.cn, the property prices in Jin Sha Zhou area, Guangzhou--- the hottest property during the golden week in October--- pour down.

In general, the quotations for the properties in Jin Sha Zhou fall by 2,000 yuan to 4,000 yuan/sqm now. The lowest price even drops down to 6,800 yuan/sqm. But this quotation might be just a way to attract attention. According to an insider, the average price for the property was about 8,000 yuan/sqm. Compared to the sales prices, the total cost of the property actually reached to 8,000 yuan/sqm with almost 4,500 yuan/sqm of the basic land price and at least 3,500 yuan/sqm of the construction costs.

On the other hand, quotations for a new property in Guangzhou’s Liwan district also fall by 2,000 yuan/sqm from the skyrocket prices in October. The Country Garden, a top property developer in South China, announced the prices for a new property in the city’s Guangyuan Dong Road, would lower down to 4,800 yuan/sqm (decorations included), which might further slash the housing price in Guangzhou.