Cooling of China's Red-hot Property Market

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A property glut in some smaller cities raises questions over how far China's decade-long housing boom can last at a time when the fragile economy is more vulnerable than ever to a possible retreat in the red-hot property market.

A flurry of housing investment over the past several years, fuelled in part by herd-like speculative buying, resulted in some developers building more housing than could be sold once the market began to slow. Now, the concern is that the market could be cooling too quickly, and risk stalling one of the few engines in the economy that are still firing.

Reporting by Langi Chiang and Bill Powell, REUTERS.

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