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New home sales volumes rebound slightly

  • Published 01 Jul 2010

New home transaction volumes rebounded slightly during the week ending June 30, data from local land bureaus compiled by China Confidential shows. Prices were mixed; though remain depressed from their peaks this year.

It is not clear whether this uptrend in transaction volume will continue since in both first and second tier cities volumes have risen only to fall back down again twice in the past two months. We expect such fluctuations to persist for some time. It is unlikely that prices will rebound until transaction volumes pick up for a sustained period. Last week, local media reported that three new projects put on sale in June by Vanke (000002:SZ), a developer, opened at 20% less than their previously advertised prices.

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China Confidential Funds, a new research service launched by FT China Confidential, is dedicated to illuminating the mainland fund industry. Our team of fund industry experts in Shanghai search out the interesting trends in fund performance, strategy, interactions with overseas funds, regulatory changes, distribution and management. We also use a proprietary system to track the emerging flows of Chinese money. Click here to find out more.

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