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Home Prices May Decline 20% in Beijing, Shanghai, Guangzhou, News Reports

By Bloomberg News -

Home prices in the Chinese cities of Beijing, Shanghai, Tianjin, Guangzhou and Shenzhen may decline 20 percent from current levels in the second half, the China Business News reported today, citing real estate broker Centaline Property Agency Ltd.

Prices may fall in the second half as a result of an increased supply of new homes on the market, the Shanghai-based newspaper reported.

To contact the reporter on this story: Jian Guo Jiang in Shanghai at jjiang@bloomberg.net

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