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New home market sees notable rise
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The transactions and supply of new homes in Shanghai grew notably last week, according to latest market data.
The area of new homes sold, excluding government-subsidized affordable housing, jumped 26.5 percent to 478,600 square meters, the highest seven-day volume in two months, Shanghai Homelink Real Estate Agency Co said in a report released yesterday.
“Nearly 1.09 million square meters of new houses were sold in the first 20 days of December, a rise of 20 percent from the same period a month ago,” said Lu Qilin, director of research at Shanghai Homelink.
“At this rate, December will probably see transactions hit around 1.7 million square meters, or the highest monthly volume in almost six years.”
The supply of new houses rose 25.7 percent week on week when about 300,000 square meters were released across the city.
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