Oct. 28 (Bloomberg) -- Property prices in China’s major cities may decline 15 percent to 20 percent during the next 12 months, Goldman Sachs Group Inc. analyst Wang Yi said.
Most of the declines will be in the first half of next year, with Chinese property prices not recovering until the second half of 2013, Wang said. Chinese property inventories may rise to a 17-month high by the end of the first half of next year, Wang said.
The government won’t relax its policies to control land prices in the next three to six months, Wang said.
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