Economy
Snow cripples apartment sales
By Zhao Chunzhe (chinadaily.com.cn)
Updated: 2010-01-04 17:36
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Only 30 second-hand residential apartments were sold in the first two days of the New Year, a drop of 37.5 percent compared to 2009 and 67.7 percent for the same period in 2008, the Economic Information Daily reported.
"It's still in the New Year holidays and the heavy snow prevents people going outdoors," said Hu Jinghui, vice president of 5i5j, a real estate agency based in Beijing.
"Plus the housing demand may have been satisfied by the year end," added Hu. A total of 1,675 apartments were sold during the last two days of 2009.
