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Huge year-on-year decline seen in holiday week property sales

Posted on 12 October 2011

During the weeklong National Day holiday, there was no sign of a shopping spree in China’s property market. Real estate agents were out in the cold as the trading volume in 20 major cities dropped an average of 32.4 percent in the first week of October compared with the same period last year.
Data collected by the China Index Academy showed that 16 of the nation’s 20 major cities saw year-on-year sales volume shrink, in eight cities by at least 50 percent. Ningbo, in Zhejiang province, tumbled 78.04 percent and Shenzhen by 90.26 percent during the holiday……………………………………….Full Article: Source


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