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Housing transactions continue to recover in Beijing, Tianjin and Shanghai |
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14:09, June 19, 2009 |
Signs of a rebound are appearing across China's real estate market as stimulus policies launched by state and local governments are gradually taking effect. There is trend of recovery in housing transactions in the real estate markets of Beijing, Tianjin and Shanghai, among others.
In Beijing, in general sales activity remains vigorous in the commercial housing market while residential housing prices are gradually recovering.
From January to May this year, the total area of commercial housing sold rose 110 percent year-on-year. Although commercial housing sales dropped slightly in May compared to April, there was a 95 percent increase year-on-year.
Sales prices of residential housing are gradually rising in Beijing. In May, prices of newly-constructed residential housing rose 0.5 percent on top of the 0.4 percent increase in April.
In Tianjin, the real estate market has shown clear signs of recovery, with sales volume climbing and transaction prices remaining stable. From January to May this year, the gross area and total value of housing transactions rose by 55.5 percent and 54 percent respectively year-on-year.
Between January and May this year, the area of commercial housing sold in Shanghai rose by 19.6 percent.
However, in the same period, the area of commercial housing sold in Guangdong Province rose 47 percent year-on-year, 6.3 percentage points higher than the rate of growth between January and April. The sales volume increased by 52.5 percent, 6.5 percentage points higher than the rate of growth between January and April.
In particular, the volume of residential housing transactions in Guangzhou rose nearly 100 percent in May. In Shenzhen, the total value of housing transactions reached 10 billion yuan in May, the first time it has reached this monthly figure in three years, with an 8.4 percent increase month-on-month.
By People's Daily Online
http://paper.people.com.cn/rmrb/html/2009-06/19/content_278034.htm
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