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‘I cried for days’: Chinese home buyers left in the lurch by China’s real estate slump
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Liquidity woes have led to unfinished housing projects and also affected the sales of new homes.
PHOTO: AFP
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BEIJING – Farmer Chen Mei spent all her savings and borrowed from family and friends to cobble together 346,000 yuan (S$65,000) to help her son buy a flat in Kunming, capital of south-western Yunnan province.
The flat was supposed to be ready in 2021, but construction stopped after the developer ran out of money.
