Why did Yancheng house prices plummet in 2022?

Reasons for the collapse of housing prices in Yancheng in 2022:

1, the hot weather in August 2022 led to a sharp decline in transaction volume, and various projects had to reduce prices to attract passengers.

The supply failure of uncompleted residential flats, which was widely circulated in the whole country in February and July, made many property buyers have shaken their confidence and held a wait-and-see attitude.

3. Yancheng's property market is underdeveloped. In the urban area, it is Kia of Da Yue, and in the suburbs, it is the textile industry. In addition, it is a chemical plant. Basically, these industries are not high-end industries. They simply can't afford the current housing prices in Yancheng, so they plummeted.