Ｓｈｏｕｌｄ Ｈｏｍｅ Ｂｕｙｅｒｓ Ｂｅ Ｒｅｆｕｎｄｅｄ Ｉｆ Ｐｒｏｐｅｒｔｙ． Ｐｒｉｃｅｓ Ｄｒｏｐ？

The developer of Sangtai ｓDanhuafu, ahousing project in south China's ShenzhenCity, was caught in the latest property marketslump without preparation. Its price droppedfrom 20,000 yuan ($3,000) per square meterat the end of 2007 to 16,000 yuan ($2,300)this March. The drop has triggered com-plaints from those who bought houses athigher prices. This prompted the developerto refund the aggrieved property owners intwo ways: For those who had not yet signedthe purchase contracts, the developer sold thehouses at the lower price; and for those whohad signed purchase contracts, the developerreturned some money to them in the nameof decoration subsidies. This rebate packagereportedly had cost the developer almost 30million yuan ($4.3 million).