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The property market cooled during the...>

CHINA PRESS
CHINA PRESS: The property market cooled during the Labor Day holiday, in
contrast to regular trends which tend to see more property transactions,
Economic Information Daily reported Wednesday
- Various property companies gave promotions for home purchasers, yet this did
not lead to a market rebound, the newspaper said. Data from Centaline Group show
residential property transactions in the largest tier-one cities dropped more
than 50% y/y to 360 units during the holiday, while it was down around 30% in
tier-two cities, the newspaper said. 
- The market is still sluggish although m/m growth of property transactions has
recently been rising in most cities, Zhang Dawei, chief analyst of Centaline
Group was cited as saying. 
***Comments: The recent m/m rebound of property sales, especially of residential
houses, shows hard demand for houses is still strong in China. However, with
tight controls still in place current market transactions can't truly reflect
the real demand and supply situation.
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