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People's Daily Online>>China Business

Secondhand Beijing housing prices hit 15-month low (2)


14:25, December 03, 2011

It has repeatedly pledged to continue these market curbs until housing prices reach a "reasonable" level.

Despite the decline in re-sold housing prices, the sales volume of new apartments in Beijing in November reached 6,683 units, a month-on-month increase of 22 percent, said the report.

In sharp contrast with the increase in volume, the average housing price was 19,598 yuan per square meter, a 5 percent month-on-month decrease, according to statistics released by 5i5j Real Estate Service Company.

November prices dropped about 21 percent compared with the peak price of new apartments.

Real estate developers have adopted a marketing strategy of increasing volume by dropping prices, facilitating the increase of the sales volume, said Hu.

It is expected that from the end of 2011 to January 2012, more newly-built housing projects open to the market at lower prices, which will further boost the trading volume, said Hu.

【1】 【2】

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