Beijing New Home Sales Surge To 5-Year High in December, Aided By Affordable Housing

Even though existing home sale prices are down nearly 6% yoy according to CREIS data, new home prices are up 1.8%. Sales surged in December, up 62% mom and 73% yoy. Sales hit 19,893 units, second only to the December 2009 total of 20,516 units. The next highest monthly sales figure is March 2013, amid the housing boom, when sales reached 19,398 units.

This sales report does not contradict this post, Beijing Real Estate Agents Drop Their Fees Again, since realtors mainly deal with existing homes. Furthermore, as the source article reports, those sales included affordable and owner-built housing. Take out those sales and the number of new properties sold sinks to about 10,000 units.

iFeng: 北京去年12月新房成交环比涨62% 创5年新高