China July Home Sales Fall 17% as Property Curbs Take Toll
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China’s home sales transaction value fell 17 percent in July from the previous month, as the country’s property curbs damped buying sentiment.
The value of homes sold dropped to 516.5 billion yuan ($84 billion) last month from 624.4 billion yuan in June, based on the difference between the National Statistics Bureau’s data for the first seven months and first half of the year. Housing sales from January to July were up 40 percent to 3.34 trillion yuan from the same period a year earlier, according to the data.