2012-02-12

Beijing East third ring homes fall below 20,000 yuan

北京城区二手房全面降价 三环房价跌破两万元 (Beijing second-hand homes fall in price Third ring homes fall through 20k)

Here's your Google translation of the important part of the story:
According to the data show that in the near future, Beijing San Huan along a lot of the average price of 20,000 yuan / square meters of second-hand flats, such as the East Third Ring Road the Panjiayuan near the Hong good homes, sale average price of about 19,525 yuan / square meter ; Quartet Garden is located in the South Third Ring Road Fangzhuang four districts, the average price was 18,776 yuan / square meter; Yun Yun International home of West tricyclic Wanshoulu, peripheral, in the sale of the average price of about 17,238 yuan / square meter. In addition, Ming Yuan residential construction in the South Second Ring Maliandao now owners sell their January sales average about 18,700 yuan / square meter, the district the previous month's average price was 21,000 yuan / square meter, down by around 11%.
More data in a later paragraph:
According to the Homelink research statistics, in January, the average turnover of 140+ square meters housing dropped to 20,026 yuan / square meters, a drop of 17%, and for 90-120 square meters of second-hand housing transactions the average price drop was 7%.
Another explanation is rising taxes. Real estate transaction taxes are up 2 to 3 times this year.

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