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Beijing's second-hand housing transactions hit new low

By Cai Muyuan (chinadaily.com.cn)
Updated: 2011-05-30 17:23

Beijing's monthly second-hand housing transaction volume only totaled 7,077 as of May 28, according to statistics released by bjfdc.gov.cn, hexun.com reported Monday.

According to analysis released by the property agency 5i5j, it was very difficult for the transaction volume to exceed 8,000 in May. It is the lowest number in Beijing's second-hand housing trade in 28 months.　

Hu Jinghun, vice president of 5i5j, predicted the second-hand housing price will fall further in June due to the increasing supply and discounted prices of new properties. He expected the transaction volume of second-hand housing to rise in June, the website reported.