An unidentified official from the city’s Housing and Urban-Rural Development Commission commented that home purchases plunged 50.9% year-over-year and 41.5% month-over-month as the government places greater scrutiny over speculation in the real estate market. The central government has implemented several measures since last year to cool the housing market.
Guggenheim China Real Estate ETF was up 12.7% for the year ended April 14, but is in the red over the past three months, according to Morningstar.
Guggenheim China Real Estate ETF
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Max Chen contributed to this article.