17 February 2020

2nd-hand home prices, sales drop in Shanghai FTZ, paper says

The number and prices of second-hand homes sold in Shanghai’s Waigaoqiao district, the home of the Shanghai free trade zone, fell in the first two months of 2014, the National Business Daily reported Monday. A combination of tighter property market controls, a cumulative 20 percent increase in home prices last year and the decision to relocate the zone’s management committee office to Lingang New City piled pressure on home prices in the district. According to Century 21 Real Estate in Shanghai, there were 161 home sales in Waigaoqiao in January and February, down nearly 60 percent year on year, while prices have also come down by around 1,000 yuan (US$163) per square meter, the report said.

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