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China existing housing market cools in May amid measures

Posted on 20 June 2011

China’s effort to cool home prices is damping the market for existing homes, with prices in May falling from the previous month in 23 of 70 cities measured.
That’s more than the 16 cities that posted declines in April, data from the National Bureau of Statistics posted to its website June 18 showed. Existing home prices in Beijing fell 0.2 percent from April while those in Shanghai increased 0.2 percent. The price of new homes, typically sold by developers, rose last month in 67 of the 70 cities monitored……………………………………….Full Article: Source


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