Dec 07 - Beijing’s Commercial Housing Sales at Ten-Year Low, Average Price Grows 6.8% YoY

Source: Caijing, ChinaScope Financial (Data)

+   According to the data released by related government agency in Beijing, 8.19 million square meters of residential properties developed in commercialized model have been sold this year in Beijing.

+   The average transaction price of commodity housing in Beijing this year is RMB 21,395 per square meter, up 6.8% year-on-year.

+   The total floor spaces sold throughout the year in Beijing is expected to be 9 million square meters, 2 million square meters less than that of 2008, the lowest in the past ten years.

+   Related Data: Sales of Commercial Housing in Beijing; Average Housing Price in Beijing

The floor space of houses sold and growth of average sales prices dropped as a result of the purchase restriction.

The sales growth fell to the rate of 2008.

The housing turnover from 3rd Ring to 6th Ring is crucial to the bottoming out of Beijing’s property market, according to data comparison of commercial housing transactions in Beijing (excluding indemnificatory housing) this year and 2008.

For more data of real estate industry and companies, please visit www.chinascopefinancial.com

Other News Headlines

• China’s Live Hog Price Rebounds
• Price Control Policy on Coal Triggers Waiting Game in the Market, Daily Inventory at Qinghuangdao Port Soars
• Sources Say 12th 5-Year Plan for Communications Industry to Be Introduced Within the Year
• Two-Third of China’s Gold Mines Face Resource Crisis, Gold Consumption Becomes Reliant on Imports

If you'd like to receive a daily e-mail update of ChinaScope Daily Dim Sum Newsletter, please contact us: newsletter@chinascopefinancial.com. If you'd like to try out ChinaScope Database, apply for a trial here.