Date
15 December 2017

Shanghai existing home sales fall to 24-month low, paper says

Sales of pre-owned homes in Shanghai fell to the lowest in 24 months in February amid insufficient supply and a mixed market outlook, Shanghai Daily reported on Friday, citing data from Shanghai Deovolente Realty Co. Existing home sales in the city totaled 11,612 units last month, marking a fall of 18.9 percent over January and a drop of 20.4 percent over a year earlier, the report said. The average cost of the pre-owned houses fell 4 percent from January to 19,612 yuan (US$3,205) per square meter last month, but this was up 14.5 percent from a year earlier, the report said.

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