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New home sales climb faster nationwide
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China’s new home sales rose more quickly in the first half of this year as sentiment continued to improve among buyers, data released yesterday by the National Bureau of Statistics showed.
More than 2.89 trillion yuan (US$465 billion) worth of new homes, excluding government-funded affordable housing, were sold across the country during the first six months of this year, a year-on-year rise of 12.9 percent, the bureau said in a statement on its website. Sales gained 5.1 percent in the first five months and fell 2.2 percent in the January-April period.
By area, 443.89 million square meters of new homes were sold nationwide over the six months, a rise of 4.5 percent year on year. In comparison, a flat performance was seen in the first five months while the January-April period suffered a drop of 5 percent, according to the bureau’s data.
“As the pace of sales growth by value was much faster than that by volume, it indicated both a rise in housing prices and a structural shift with more higher-end houses being popular among home seekers,” said Lu Qilin, a researcher at Shanghai Deovolente Realty Co.
In Shanghai, new homes were sold for an average 30,926 yuan per square meter in the period between January and June, an increase of 17.5 percent from the same period a year earlier.
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