Some initial signs that the Chinese equity market slump is starting to affect the real economy have come to light over the past 24 hours.
Chinese media is now reporting that some prospective buyers of property have forfeited their deposits and cancelled planned purchases in an attempt to conserve capital and meet margin calls. Moreover, according to a report published by CNBC, several Shanghai-based real estate agents have told the Chinese media that investors are now looking to sell existing property holdings in a hurry to recoup their losses by selling their properties.
Quick sale
According to CNBC some Chinese real estate agents seen investors put their properties on the market at a 10% discount to the prevailing market price as they...
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