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April 8, 2020

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Pre-owned market triples

The city’s existing housing market saw signs of recovery last month with transactions of pre-owned homes more than tripling from February.

Citywide, about 15,000 pre-owned homes changed hands in March, a month-over-month surge of 235 percent. But that was down 41 percent year on year, Shanghai Homelink Real Estate Agency Co said in its monthly report.

Existing homes worth a total of 44.7 billion yuan (US$6.3 billion) were sold, a month-over-month jump of 204 percent, but a year-over-year fall of 41 percent.

In the first quarter, about 31,000 existing homes, worth 95.1 billion yuan, were sold, down 40 percent and 38 percent from a year earlier.

The average price was 3.05 million yuan per unit, or 39,151 yuan per square meter, up 4 percent and 3 percent.


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