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Home Sales Failed To Rebound During Golden Week Holiday

CHINA PRESS
MNI (Singapore)

Home sales in most cities declined during the Golden Week holiday, despite property developers promoting more discounted projects. The average daily transaction area in 35 major cities dropped by about 20% compared with the same period last year, data by China Index Academy showed. Core cities may continue to relax restrictions to boost home sales and sales are expected to stabilise in Q4 with home replacement demand gradually released, while market recovery in second-, third- and fourth-tier cities may take longer. (Source: 21st Century Business Herald)

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