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Home sales increase
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NEW home sales in Hangzhou hit a five-year high in October thanks to local government’s stimulative policies, according to tmsf.com, an online real estate firm.
The total number of units sold was 12,832 last month compared to 9,500 in September. On October 31, 938 transactions were recorded in Hangzhou, the most on a single day in the past five years. The municipal government has introduced several policies since July to boost the property market. The inventory of new homes decreased in October for the first time in eight months, representing a 1.5 percent drop from the same month last year.
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