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China's New Home Sales by Floor Area Down 12.1% in Jan-Aug, While Second-Hand Transactions Rise 10.6%
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According to data from China's National Bureau of Statistics, the sales area of newly built commercial housing in the first eight months of the year totaled 498.8 million square meters, a year-on-year decrease of 12.1%. Residential sales area fell by 13.0%, while total sales revenue from new commercial housing dropped 13.0% to 4.747 trillion yuan, with residential sales revenue down 13.1%. In contrast, data from the Ministry of Housing and Urban-Rural Development showed that the online-signed transaction area for second-hand homes reached 549.23 million square meters in the same period, an increase of 10.6% year on year. The figures highlight a continued divergence in China's property market, with new home demand weakening while the second-hand market shows relative resilience.
Source report
Jin10 Data, September 15 — China's real estate market showed mixed trends in the first eight months of the year, with new home sales declining while second-hand home transactions posted growth.
Newly Built Commercial Housing
- Sales area: 498.8 million square meters, down 12.1% year-on-year
- Residential sales area: down 13.0%
- Sales revenue: 4.747 trillion yuan, down 13.0%
- Residential sales revenue: down 13.1%
Second-Hand Homes
According to data from the Ministry of Housing and Urban-Rural Development:
- Online-signed transaction area: 549.23 million square meters, up 10.6% year-on-year
Source
金十数据Eastern
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