Individual housing mortgages soared in first quarter
21/4/2003 14:25
Individual housing mortgage loan balances amounted to 121.579 billion
yuan (US$14.6 billion) at the end of last month, an increase of 69 percent from
a year before, according to the People's Bank of China's Shanghai
branch.
Individual housing loans increased by 12.5 billion yuan in the
first quarter of the year, rising by 4.457 billion yuan from a year
before.
Shanghai individuals purchased 2.3631 million square meters of
housing in the first quarter of the year, an increase of 6.1 percent from a year
before.
A certain number of housing mortgage loans were extended to
second-hand or existing-home buyers, according to the People's Bank of China's
Shanghai branch.
Wendy Zhang/ Shanghai Daily news
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