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China home sales surge 69pct in Q1

Posted on 16 April 2013

China’s home sales rose 69 per cent in the first quarter as buyers rushed into the market before local governments implemented property curbs, Bloomberg News reported. The value of homes sold climbed to 1.2 trillion yuan (S$242 billion) from a year earlier, China’s statistics bureau said on Monday, the biggest first-quarter increase in three years. Overall real estate sales, including commercial buildings, rose 61 per cent to 1.4 trillion yuan from last year.
“Quite a lot of buyers bought homes as they expected local governments would issue harsh property curbs,” said Mr Zhao Zhenyi, Shanghai-based analyst at Industrial Securities………………………………………..Full Article: Source


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