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China: Excess inventories expected to pare home prices

Posted on 10 October 2011

Experts expect China’s skyrocketing home prices to gradually ease, as housing inventories have begun to pile up as a result of slumping transactions in the property market. Transactions have continued to fall following sluggish performance in September. The market even suffered a slide during the weeklong National Day holiday, which is typically a boom week for the housing market.
Official statistics showed that only 1,039 housing units were sold in Beijing during the holiday, including 908 new homes and 131 second-hand houses, down 22.8 percent over the same period last year……………………………………….Full Article: Source


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