Casting a shadow on China's success story

Shenzhen

WITH little more than an architect's drawing and a sales pitch to go by, Tim Chen paid around US$500,000 last month for a small apartment being built above a shopping mall on the outskirts of this southern Chinese metropolis.

"I wanted to grab a larger unit in the first batch that went on sale, but I didn't grab fast enough," he said in the lobby of the development's salesroom, echoing an urgency that has gripped many buyers in recent months.