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Real Estate Growth Falls MoM, Say Government Stats
Sales prices for domestic real estate projects in 70 large- and medium-sized cities increased 0.2% year-on-year in November but fell 0.5% month-on-month, according to statistics from China's National Development and Reform Commission (NDRC) and National Bureau of Statistics. Sales prices increased 1.6% year-on-year in October. New housing projects saw sales prices rise 0.2% year-on-year but fall 0.6% month-on-month in November. In comparison, new housing prices increased 1.8% year-on-year in October.
Sales prices for projects smaller than 91 square meters fell 0.4% from October, while second-hand housing prices rose 0.1% year-on-year but fell 0.2% from October. Sales prices for non-residential real estate projects increased by 0.8% year-on-year, 0.8% down from October; sales prices for these projects were up 2.2% year-on-year last month.
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