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China’s home sales tumbled in first week of February

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China’s home sales have been hit hard by the ongoing coronavirus outbreak with transactions tumbling so far this year, as more than 100 cities closed sales offices to contain the spreading of the virus.

New home sales plunged 90 per cent from the same period last year, according to preliminary data on 36 cities tracked by China Merchants Securities Co. Sales of second-hand homes plummeted 91 per cent in eight cities where data is available . . .

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