Core Viewpoint - The real estate market in Longgang, Shenzhen, is experiencing significant price declines, with some properties losing up to 43% of their value over three years, leading to substantial financial distress for homeowners [1][2]. Price Declines in Longgang - Multiple areas in Longgang have seen average price drops, with specific properties like the Twelve Oaks Manor experiencing a 43.93% decline from 8.4 million to 4.71 million [2]. - Other notable declines include: - Poly Shangcheng Garden: -33.14% - Dongdu Garden Phase II: -24.14% - Mingju Plaza: -28.16% - Various properties in the Dawan area also reported declines exceeding 20% [2]. General Market Trends - In Shenzhen, 12 properties have seen price drops exceeding 50%, with the Ba Gua Ling dormitory experiencing the largest drop at 70.34% [4]. - The overall trend indicates a cooling market, with prices peaking around 2021 and now stabilizing at lower levels [6][11]. Market Sentiment - There is a mixed sentiment among buyers and analysts, with some suggesting that the current price drops are a necessary correction after a period of inflated values [3][8]. - The general consensus is shifting towards viewing housing as a necessity rather than an investment vehicle, reflecting a more cautious approach among potential buyers [10][11].