BEIJING : New home prices in China edged down in June from the previous month, marking a second straight month of declines, and housing sales are likely to remain weak over the summer when demand is usually at a low ebb, according to a private survey.The average price of new homes in 100 cities fell 0.01
BEIJING : New home prices in China edged down in June from the previous month, marking a second straight month of declines, and housing sales are likely to remain weak over the summer when demand is usually at a low ebb, according to a private survey.
"In the first quarter, market confidence, driven by a concentrated release of pent-up demand, gradually returned and prices appeared to be recovering," the real estate research firm said. China's property sector has over the past two years been thrust into a severe debt crisis - initially triggered by government moves to rein in ballooning debt - with many developers defaulting on payments as they struggle to sell apartments and raise funds.
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