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Buying of secondhand homes jumps 64% in March
By Cao Qian |
April 10, 2012, Tuesday
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Print Edition
Print Edition
THE continued pickup in buying sentiment propelled last month's sales of previously owned properties in Shanghai to the highest in more than a year, according to the latest market data.
The buying of used properties, most of which were residential developments, jumped 64 percent from February to 16,400 units in March, Century 21 China Real Estate said in a report released yesterday.
"In particular, we've noticed increasing demand from buyers seeking to upgrade their houses" to usually larger and costlier units, said Huang Hetao, research manager at Century 21.
But he also warned of more uncertainties in the coming months because not so many "value-for-price" properties are left after two months of a sales rebound while more individual home owners seem not likely to cut their asking prices amid a recovery in market sentiment over the past two months.
The buying of used properties, most of which were residential developments, jumped 64 percent from February to 16,400 units in March, Century 21 China Real Estate said in a report released yesterday.
"In particular, we've noticed increasing demand from buyers seeking to upgrade their houses" to usually larger and costlier units, said Huang Hetao, research manager at Century 21.
But he also warned of more uncertainties in the coming months because not so many "value-for-price" properties are left after two months of a sales rebound while more individual home owners seem not likely to cut their asking prices amid a recovery in market sentiment over the past two months.
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