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House sales perk up in Shenhen

(China Daily)
Updated: 2008-06-23 17:34

Housing sales perked up in Shenzhen in May as prices continued to slide.

The average housing price in Shenzhen's six districts dropped to 11,143 yuan ($1,620) per sq m in May, down 23 percent from a year earlier and 7 percent from April.

Of the six districts, Bao'an recorded the biggest fall in May, with the average housing price reaching 10,418 yuan per sq m, down 7.3 percent from a month ago. The average housing price in Longgang district didn't slide as much as it did in April and fell only 2 percent from a month earlier to 8,910 yuan per sq m.

Sales of new apartments rose quickly as more houses become affordable. In May, 4,732 houses were sold with a total floor area of 460,000 sq m, up 51 percent and 56 percent respectively from a month ago.