--FILE--General view of high-rise buildings and residential buildings in Shenyang city, northeast China's Liaoning province, 19 May 2015. The northeastern Chinese city of Shenyang recently ranked last on a list of 36 major cities in terms of investment and development prospects, weighed down by sluggish economic growth and oversupply of buildings. The list was drawn from an annual survey of more than 100 property developers, consultants and investors conducted by the nonprofit real estate group Urban Land Institute. Housing prices in Shenyang fell 7.6% in June from a year earlier, outpacing the average 2.7% decline recorded in 100 Chinese cities, according to private data provider China Real Estate Index System. Shenyang, the capital of frigid Liaoning province bordering North Korea, is a transport hub and a commodity distribution center with a population of 6.2 million people. But that has not made it immune to irrational construction. The city¯s housing inventory reached the equivalent of 31.7 months of sales in June, the highest among 28 major cities tracked by another firm, China Real Estate Information Corp.
