New home sales in February in Shanghai fell to the lowest in 24 months amid a continued easing in buying sentiment, latest data showed.
The purchases of new homes, excluding government-subsidized affordable housing, totaled 418,700 square meters last month, down 41 percent from January and a drop of 23 percent from the same month a year ago, Shanghai Uwin Real Estate Information Services Co said in its latest report.
"While the Spring Festival holiday could be cited as a main reason for the month-on-month slide, the notable year-on-year drop in volume seemed quite unexpected," said Huang Zhijian, chief analyst at Uwin.
Slump hits Beijing real estate
2014-03-03Real estate price growth loses steam
2014-02-25Property developers slash home prices
2014-02-24Home price growth moderates, divergence ahead
2014-02-25Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.