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Pre-owned house sales in Beijing at 23-month high (2)

By Hu Yuanyuan  (China Daily)

08:51, January 04, 2013

However, Zhang Dawei, a marketing director with the Centaline Group, a Hong Kong-based real estate brokerage company, thought it unlikely that prices will continue rising at such a pace.

"With the policy of home purchase restrictions remaining in place and second-home buyers still having to pay higher mortgage rates, a strong rebound in prices is still unlikely."

Zhang Lei, an analyst with Century 21st, added that sales and prices may climb further in 2013, but that the especially strong rebound in December could be exceptional.

The local statistics authority said that from January to November, the transaction volume of residential property sales in Beijing was about 11.79 million square meters, up 52.73 percent year-on-year, a robust growth rate compared to 2011.

According to statistics from the National Bureau of Statistics, in November 53 out of 70 major cities recorded higher new-home prices than a month earlier, up from 35 in October.

Meanwhile, total housing sales surged 9.5 percent year-on-year to 5.35 trillion yuan in the first 11 months, up from a rise of 5.6 percent seen in the January-October period.

【1】 【2】


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