Who would have thought that one day, luxury real estate in Beijing could also decline!

Recently, the Beijing 'Yucui Garden' development, under Li Ka-shing's Cheung Kong Holdings, announced a price reduction and, unusually, offered compensation of 800,000 to 1 million yuan to old owners who purchased at high prices last year.

It is reported that this plot is located outside the 4th ring road of Beijing. Li Ka-shing acquired the land in 2001 at a floor price of 1,750 yuan per square meter, and after holding it for 23 years, it opened for sale last year.

The opening price of the development was 90,000 to 100,000 yuan per square meter, and this price drop brings the average to 70,000 yuan per square meter, with total prices starting at a minimum of 9.8 million yuan. $BNB