Wuhan Property Prices Take A Dive

Funny story written by Monkey Woods

Friday, 8 May 2020

image for Wuhan Property Prices Take A Dive
Wuhan probably looks a bit like this, in my opinion

It's been a difficult four months for the Chinese city of Wuhan, the center of the Coronavirus outbreak, and every area of business has suffered, including the property market, where prices of houses, condominiums, apartments, and hovels have all taken a rather abrupt nosedive.

The 14million inhabitants of the ultra-modern city live in relative splendor compared to many places in China, but the connection with the virus has wiped massive percentages from the value of most homes.

A two-bedroom condo in the swish Hankou district, for example, used to be worth US$200,000, but a similar property is now being listed at less than a quarter of that.

And still nobody is buying.

Townhouses on three floors, once the 'very thing' at US$150,000, are now going for a song, and, as far as once-desirable studio apartments overlooking the wet market go, you can't give them away.

Local hovels are not thought to have been affected by the price crash, as they weren't worth anything to begin with.

The funny story above is a satire or parody. It is entirely fictitious.

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