Shenzhen home sales hit 30-month high in April

Shenzhen home sales in the secondary market touched a record high in April amid falling mortgage rates, population influx and a cyclical upturn in sentiment, according to SCMP.

Data from the Shenzhen Real Estate Information Platform showed that 7,570 homes changed hands on the secondary market in April, an increase of 66 per cent over the previous month and the highest monthly record since October 2016.

Prices were more subdued, however, rising 0.9 per cent monthly to reach RMB52,787 per square meter in April. Although mortgage rates have been lowered recently and Greater Bay Area euphoria has been evident, major factors constraining the market have not been loosened, including curbs on non-hukou holders and a three-year resale ban.

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