Recently, China's four major real estate companies
have taken the lead of lowering prices in the house market.
Many other real estate companies
are following them closely.
Market experts foresee that more large-scale promotion
will commence in March.
This will be the second price reduction
since the end of last October in China.
Beijing-based economist Mao Yushi said, it will not be
an overstatement to say that house prices are falling by 50%.