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June 7, 2017

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Pre-owned home sales fall

SALES of pre-owned homes in Shanghai fell for the second consecutive month in May as strictly enforced tightening measures continued to damp buyers’ sentiment.

Around 14,600 units of pre-occupied houses changed hands last month, down 5.3 percent from April but a plunge of 23.9 percent from the same month a year ago, data released yesterday by Shanghai Homelink Real Estate Agency Co showed.

“The city’s existing home market usually registers better performance in May than April,” Homelink said in a report. “But as rein-in measures remain strictly enforced and there are no signs of a policy relaxation soon, market sentiment would remain subdued.”


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