Shanghai, Guangzhou report similar real estate freezes

春节期间多地楼市遇寒冬 上海广州仅成交十余套

Shanghai and Guangzhou were as bad as Beijing, where there was no activity over Spring Festival, new home sales fell 83% the week before the holiday and second hand homes fell 87%. In Shanghai, there were some sales during Spring Festival (January 22 to 28), but they were down 33% from last year, with prices down 8%. Sales in Guangzhou were also down. Jinan, capital of Shandong province, reported a total freeze in activity.