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Housing Market Fails To Boom In March As Expected

CHINA PRESS
MNI (Singapore)

March's typical housing boom failed to materialise this year as home prices and sales continued to fall across the country, Caixin reported. The sales prices of new and established homes in 70 large cities fell by 0.3% and 0.5% m/m in March, National Bureau of Statistics data showed. However, some cities with continuous population inflow, such as Shanghai and Xi’an, have seen new home prices rise for three consecutive months, though still not enough to say the local property market has fully recovered. The area of new home sales fell 19.4% y/y nationwide in Q1, the NBS data showed.

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