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China's Housing Market Still At Bottom-Caixin

CHINA PRESS
MNI (Singapore)

China’s real estate market is still hovering at the bottom despite over 200 cities having loosened regulations by mid-June, as home prices nationwide are still slowly declining, Caixin reported. Second-hand home prices in 70 key cities decreased by 0.4% m/m, or 2.2% y/y in May, Caixin cited data by Shanghai E-House Real Estate Research Institute. New housing declined by 0.2% m/m, or 0.8% y/y, said Caixin. The current relaxations aim at fine-tuning the qualifications of home buyers, and first-tier cities have not changed policies markedly, Caixin said citing Zhang Dawei, chief analyst of Centaline Property.

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