Vicky Xu / Shanghai Daily news

The new property rules have affected the real estate agencies, individual investors and developers so much that some have gone bankrupt, were thrown into difficulties, or have been forced to alter their plans.
Homes around Central Park in Pudong used to be quite popular. Real estate agencies of different brands also set up many outlets there. But today, some of them are shut down.
"Three agencies around us have gone bankrupt," a broker with the City Property said. The Hong Kong-based City Property chainstores have survived. "Small real estate companies all crashed. Big companies have closed outlets or laid off employees to keep alive," the man added.
Besides the real estate agencies, individual investors are also having a hard time.
Mr Shi, from Zhejiang Province, is about to end his business. His real estate consulting company used to help Zhejiang investors speculate on the home market here. But now, his clients are retreating. One of them had bought four apartments, borrowing 5 million yuan from the bank. Now, nobody buys his apartments so that he has to pay nearly 60,000 yuan as monthly interest to the bank on his own. Though he is only 40, his hair has turned white recently, according to Shi.
However, investors with plenty of money feel relaxed. They rent rather than sell. A distinguished change to the display windows of real estate agencies are the huge increases in the numbers of rental homes. Now, half of the windows are filled with home rental information.
Property developers are trying to adapt: they have postponed the start of their project sales; are trying more promotions; have started to promise discounts for buyers without bank loans; and are more kindly in manner.