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China housing sales decrease after rigid curbs take effect

Reporter: Xu Zhen 丨 CCTV.com

11-03-2016 05:25 BJT

The Chinese housing market had a contraction last month, after rigid curbs took effect in early October. That's according to a private survey by E-house China. 

The survey shows that new homes sales stood at 22 million square meters, eight percent less from one month ago. Among the 30 cities surveyed, Suzhou, Fuzhou, and Nanjing suffered the biggest losses.

Seventeen of the 30 cities saw sales rise compared to September. Analysts say the rise was due to the time lag for the curbs to take effect.

They also say the higher purchase threshold has dented sales sentiment.

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