Property sales in Beijing and Shanghai rebound
Updated: 2012-02-21 16:58
By Hu Yuanyuan (chinadaily.com.cn)
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Property sales in Beijing and Shanghai rebounded last week, industry sources reported on Tuesday.
A total of 2,186 apartments, including both new homes and pre-owned properties, were sold in Beijing last week, 30.2 percent more than the previous week. Compared with the same period of last year, however, sales were down 62 percent, according to the Beijing Municipal Department of Housing and Urban-Rural Development.
The situation in Shanghai was similar. The total area of apartments sold increased by 27 percent over the previous week, according to Shanghai Uwin Real Estate Consulting Company.
With prices gradually falling and interest rates for first-time buyers back to the benchmark, consumers are more willing to buy, said Hu Jinghui, a senior real-estate expert and vice president of the 5i5j Real Estate Service Company in Beijing.
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