Latest News:  
Beijing   Sunny    35 / 22 ℃  City Forecast

Home>>China Business

Beijing home sales rebound: new figures


14:04, July 02, 2012

BEIJING, July 2 (Xinhua) -- A property market rebound has been seen in Beijing as home sales in China's capital jumped to 25,602 units in June, 10.5 percent more than in May and 50.6 percent more than June 2011, new figures have indicated.

The trading volume of new homes in Beijing rose 14.1 percent month on month to more than 11,983 units in June, according to data released by the municipal commission of housing and urban-rural development on Sunday.

The average new housing price in Beijing in June was 20,678 yuan (3271.8 U.S. dollars) per square meter, a 2.1 percent increase from the previous month, according to data from 5i5j Real Estate, a major housing agent in China.

Lower prices from developers and banks' reduction of interest rates prompted the rebound, according to Hu Jinghui, vice president of 5i5j Real Estate.

The government's tightening policies have meant housing stock remains high. It is not necessary for home buyers to purchase in haste or make speculations, he added.

A slew of measures to curb runaway property prices since 2011, including restrictions on second-home purchases, higher down payments and the introduction of property taxes, have cooled the property market to a certain extent and made buyers hesitant to purchase.

In the latest moves to spur investment and growth, the central bank cut the benchmark interest rate by 25 basis points last month following a reduction of 0.5 percentage points for the reserve requirement ratio for banks in May.


Leave your comment0 comments

  1. Name


Selections for you

  1. Heroic teacher becomes a CPC member

  2. Flood-fighting and rescue drill

  3. Manas Int'l Tourism Festival held in Akto

  4. Spain crushes Italy 4-0 in Euro 2012 final

Most Popular


  1. Border conflict laid aside as giants draw closer
  2. Take wait-and-see approach to US sanctions
  3. Money not a panacea for small business problems
  4. 'Global effort needed to fight corruption'
  5. New welfare stock accounts' impact limited
  6. Leftover men to be a big problem
  7. A symbol of affluence or a trap of luxury?
  8. Premier's visit sign of close ties with region
  9. Property necessary pill for economy
  10. Chinese banks must go global

What's happening in China

Newly-employed bullet train attendants begin career

  1. Growing family wealth masks quality of economy
  2. 5 women get into brawl on airplane, face charges
  3. China widens pension coverage
  4. Social media now moves into the corporate world
  5. Major high-speed railway opens in central China

China Features

  1. US-Japan-ROK drills aim to fix alliance weakness
  2. Why Chinese listed companies withdraw from US?
  3. Dreams can challenge any depth, height
  4. How can traditional Chinese medicine earn trust?
  5. Eurozone should move forward or it will fall over

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai