Solid Sentiment Despite Drop in New Home Sales

Strong sentiment among home buyers and property developers continued in Shanghai in the first week of December despite a drop in sales volume, according to latest market data.

The purchases of new homes, excluding government-funded affordable housing, fell 18.7 percent from the previous seven-day period to 260,100 square meters, but they stayed above the 200,000-square-meter threshold for the fourth straight week, Shanghai Deovolente Realty Co said in a report.

“Despite the drop, the weekly volume was still quite good for this time of the year,” said Lu Qilin, a Deovolente researcher. 


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