If one asks what property loses its value the fastest, some would say it is the computer as its value will decrease the first day you buy it. Others would argue that it is the car as once you drive it, it will sell for less. Ms. Tu from Beijing bought a property, whose value decreased 150 thousand yuan in no more than 10 days. What kind of property is this? Let's follow Yang Lei to find out.

The Chaoyang People's Court in east Beijing became the cynosure of activity recently, particularly on the 13th of October. That day, the court began a hearing on a real estate lawsuit. The plaintiff Ms.Tu sued the defendant, a real estate company, for losses incurred while buying one of its properties. This was the first case of its kind in Beijing, which aroused huge interest. More than 30 reporters from different media organizations attended the hearing.

"I think it involves fraud during the sales process by the real estate company. "

This is Tu's husband. On that day, Ms. Tu didn't appear in court for some reason. Her husband acted as her representative. Her husband was surprised to see so many people from the media, but refused none of their interview requests.

Ms. Tu's lawyer accepted the interview requests and said she bought an apartment in a luxurious compound in the city's east, near the central business district in Beijing.

"They were satisfied with the location and the apartment. They were fine with the high price as they could afford it. It was a nice apartment for a family of three."

Dongheng Times enjoys a very good location as it is near line 1, one of the main subway lines in Beijing. It was also a 5 minute drive to the World Trade Center and 20 minutes away from Tiananmen Square, the very heart of the capital Beijing.

Ms. Tu bought the apartment in Dongheng Times on May 10th this year. It covers 77 square meters and cost 23,000 yuan per square meter. The total sum was around 1.76 million yuan or about 260, 000 US dollars.

Ms. Tu thought she had a nice deal, only to find that it was not to be, as the price of the property dropped 150 thousand in no more than 10 days. On 20th of that month, the real estate company issued a discount package. The apartments above and beneath Ms. Tu's were all included in the package.

Ms. Tu's apartment's number was 2303 Building B. And the apartments in the package were 2203 and 2403. The apartment 2203 was sold at the same price as Tu's, but the newly offered price was only 21,000 per square. That is to say, to be exact, Ms. Tu's apartment's value had dropped 154,000 yuan in only ten days.

Anchor: It was most upsetting for Ms. Tu to know that her choice in fact made her lose about 150,000 yuan in just ten days. But Ms. Tu was not alone. From the second half of last year, the real estate market has become sluggish nationwide. The average price for real estate began increasing slowly, and even dropped in many cities from the beginning of this year. Take Beijing for example. Statistics say real estate sales for the first 4 months of the year decreased by 54 percent compared to the same period last year.