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Shanghai property sales surge in February

By Hu Yuanyuan (chinadaily.com.cn)
Updated: 2009-03-02 19:30

A total of 787,600 sq m of property changed hands in Shanghai in February, up 129 percent from a year earlier, according to statistics from UWIN, a Shanghai-based real estate research center.

The February 2009 figure was down 2.43 percent, however, compared with February 2007 when the property market was at its peak.

The rise in February 2009 sales was partly the result of falling prices. The average sales price stood at 12,141 yuan ($1,775) per sq m, down 13.94 percent month-on-month.