You are here

China Q1 home sales down on tight credit

New property construction plunges 25%

[SHANGHAI] China's home sales fell and new property construction declined 25 per cent in the first quarter, as credit remained tight, adding to signs of a slowdown in the world's second largest economy.The value of homes sold fell 7.7 per cent to 1.1 trillion yuan (S$221 billion) in the three