The inventory of new home supply area in 35 major Chinese cities was 260.90 million square meters by the end of December last year, down 1 percent month on month and down 4.4 percent from a year earlier, according to a report released by property consultancy E-House China.
The report said that due to the contraction in property supply in the first tier and second tier Chinese cities, real estate enterprises need to replenish inventory in a bid to restrain upward pressures on housing prices.
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