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Chinese property brokerage eyes new market

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2010-04-09 15:17
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Century 21, China's first US-listed real estate brokerage firm, will extend its business to 1,350 outlets in 39 Chinese cities this year it announced Thursday.

Vice Chairman Lu Hang said the company would enter the new residential and commercial property markets.

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Lu expected the transaction volume of pre-owned homes this year to be lower than that of 2009 because of the government's tightening real estate policies, but said prices would increase.

The company saw transaction value exceeding 81.8 billion yuan last year. Currently, it has 1,133 outlets in 31 regions and 15,550 brokers.