Shanghai Housing Sales Slump

(Shanghai) -- After a series of measures aimed at reining in housing prices, Shanghai's new home sales touched a five-year low in the first half of this year.

According to Shanghai Uwin Real Estate Information Services Co., as of June 30, Shanghai's residential housing transactions reached 3.75 million square meters, the lowest in five years. The transaction value was only 43 percent of the figure in the same period of 2009, and 70 percent of that in 2008.