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Mega City Housing Markets Restart

CHINA PRESS
MNI (Singapore)

Housing markets in first-tier cities including Beijing and Shanghai have recorded active transactions with homebuyer confidence boosted following the recent easing of mortgage rules. On the first weekend after the new policy was introduced, the number of single-day visits and transactions increased by 2.5-3 times on the week, said a sales manager in Shanghai. Mega cities are expected to see in a wave of purchases seeking to upgrade, as the number of second-hand listings in Beijing and Shanghai has increased by over 4,000 and 3,000 units. However, the performance in the second- and third-tier cities remains flat so far. (Source: Xinhua News Agency)

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