National property prices, trading volume rebound

14:27, November 30, 2010      

Email | Print | Subscribe | Comments | Forum 

The property market seems to have sprung back to life since national regulations were first implemented. Last week both trading volume and prices rebounded.

Data provided by the China Index Academy showed that since late November, most cities' trading volume and property prices have started climbing.

In the first week of November, the market was obviously "frozen" by the regulation, and in the second week, 12 out of 35 cities witnessed increased trading volume. In the third week, 18 cities began to see a rise in trading volume, while in the fourth week trading volume witnessed a full recovery.

Among major cities, Beijing, Hangzhou and five other cities saw an increase in trading volume over the previous month. Affected by affordable housing trading, Beijing witnessed the largest growth, up by 62.4 percent, and the trading volume growth rates in Chongqing and Hangzhou were both more than 30 percent.

Transaction prices also rebounded. After entering November, property prices in Hangzhou, Sanya, Suzhou, Shenzhen, Dongguan, Haikou, Ningbo, Yinchuan and other cities have fallen by more than 10 percent.

In the fourth week, trading prices were obviously up in Shenzhen, growing by more than 12.9 percent over the previous month, and property transaction prices in Tianjin surpassed 10,000 yuan per square meter this week. Trading prices in Haikou, Kunming and Lanzhou rose fastest when compared to the previous month — rising by between 10 percent and 40 percent.

But in terms of recovery of the real estate industry, insiders hold different views.

Yu Jiaxiong at Centaline (Shenzhen) Property Agency said that the pessimism brought by the regulations is declining, and the market has started to adjust its attitude gradually.

However, the board secretary of Vanke Tan Huajie said: "the rise in trading volume is due to increased supply."

He said that the policy's effect is very obvious, and the recent fast rise in the supply contributes to improved trading volume.

By Huang Beibei, People's Daily Online

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Chinese Navy soldiers hold an evening party marking the upcoming 62nd National Day aboard Chinese Navy hospital ship "Peace Ark" in the Pacific on Sept. 28, 2011. The Chinese National Day falls on Oct. 1. (Xinhua/Zha Chunming)
  • Photo taken on Sept. 30, 2011 shows the crowd at the plaza of Beijing Railway Station in Beijing, capital of China. The railway transportation witnessed a travel peak with the approach of the seven-day National Day holidays on Friday. (Xinhua)
  • A man wearing high-heel shoes takes part in the 3rd annual Walk a Mile in Her Shoes, an event when men literally walk in women's shoes to raise awareness about ending violence against women, at Yonge-Dundas Square in Toronto, Canada, Sept. 29, 2011. (Xinhua/Zou Zheng)
  • Photo taken on Sept. 29, 2011 shows a cargo ship in danger on the sea near Zhuhai City, south China's Guangdong Province. Cargo ship Fangzhou 6 of Qingzhou of southwest China's Guangxi Zhuang Autonomous Region lost control after water stormed into its cabin due to Typhoon Nesat on the sea near Zhuhai Thursday, leaving 12 crew members in danger. Rescuers rushed to the ship and saved them by using a helicopter. (Xinhua)
  • Actress Gong Li poses for L'Officiel Magazine. (Xinhua Photo)
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
Hot Forum Discussion