20 August 2019

New home sales in 54 cities down 13.8% in Feb, report says

New home sales volume in 54 major Chinese cities was down 13.8 percent on average in February from the same period last year and down about 35 percent compared to January, Xinhua news agency reported over the weekend, citing data from property information provider Centaline. The weaker sales could be due to a hike in mortgage interest rates, and some lower-tier cities could see their property markets cool significantly, Zhang Dawei, an analyst from Centaline, was quoted as saying.

– Contact HKEJ at [email protected]



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