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New home sales in 30 key cities up 1.4% YoY in first 20 days of Sept; second-hand sales up 13.1%
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According to data from the China Index Academy (CIA), new home sales in 30 key Chinese cities rose by a marginal 1.4% year-on-year during the first 20 days of September. First-tier cities continued to show growth, but the recovery remains concentrated in high-quality urban areas and projects, highlighting a persistent structural divergence in the market. In the secondary market, existing home sales in 20 key cities increased by 13.1% year-on-year, with Beijing and Shanghai recording seven consecutive months of year-on-year growth. Cao Jingjing, General Manager of the CIA Index Research Department, stated that the August 28 policy adjustment has had a relatively limited direct impact on the recent supply pace. She added that future market performance will depend on demand release and project marketing efforts.
Source report
September 23 (Caixin) — According to data from the China Index Academy, the floor area of newly built commercial housing sold in 30 key cities during the period from September 1 to 20 increased by 1.4% year-on-year.
Key highlights from the report include:
- First-tier cities continued to show growth, with recovery concentrated in high-quality urban sectors and projects.
- Structural divergence in the market persists.
- In 20 key cities, the number of second-hand residential property transactions rose by 13.1% year-on-year.
- Beijing and Shanghai recorded seven consecutive months of year-on-year growth in transaction volumes.
Cao Jingjing, General Manager of the Index Research Department at the China Index Academy, noted that the impact of the August 28 policy adjustment on the near-term supply pace has been relatively limited. Future market performance, she added, will depend on demand release and project marketing efforts.
Source
财联社Eastern
Part of this Story
China's New Home Sales Edge Up 1.4% in Early September; Second-Hand Sales Surge 13.1%