Housing prices in tier-one cities.......>

CHINA PRESS: Housing prices in tier-one cities have cooled overall, with real

estate developers in Beijing and Shanghai trying a series of promotional tools

including offering discounts and free interior design, the CCTV Finance reported

on Tuesday.

- The CCTV reporter visited more than ten residential sales projects in Beijing,

finding all projects are offering discounts ranging from 1% to 15%. While in

Shanghai, there are projects offering BMW cars as a 'gift' for buying property,

the report said.

- According to the report, the supply of new homes in first-tier cities has

increased recently, and fierce market competition is the main drivers for

discount sales. The situation will likely continue, as an increasing number of

new homes are expected on the market in the near future.

(Link to the story: https://bit.ly/2AoaPFI)