2011-04-09

Beijing villa sales drop, but average price up

北京别墅成交量大跌 “千万级”拉抬均价
Transaction volume fell 74% year-on-year, but average price climbed to 30,611 yuan/square meter. The article notes that there are four groups of houses in the market: 5 million yuan and lower, 5-10 million, 10-20 million, and more than 20 million. In terms of USD, that's about $750,000 at the bottom level and $3 million and up at the top end.

Transactions lead prices; if the market is slowing, prices will come down in the coming months.

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