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SHENZHEN: The stagnancy of the housing market in this southern boomtown represents a ray of hope for some local homebuyers, but investors say prudence must rule the day.

Resident Emily Kang said she was pleasantly surprised to discover developers had begun pricing their new properties more reasonably.

"House prices had been rocketing for the past six months, and I was beginning to think my dreams of owning a home were impossible," the 25-year-old media worker said.