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China 2013 new home sales hit record high

Prices in tier 1 cities surge in absence of more property curbs

[SHANGHAI] China's new home sales last year exceeded US$1 trillion for the first time as property prices in cities the government considers first tier surged in the absence of more nationwide property curbs.

The value of new homes sold last year rose 27 per cent from 2012 to 6.8 trillion...