Bifurcation Explodes: Beijing Existing Home Sales Up 142% In First Half of June; Third Tier City Sales Drop 22%

Beijing existing home sales increased 142% yoy in the first two weeks of June. New home sales were up 57% yoy. Prices are up as well due to luxury apartments making up a larger portion of sales:

Meanwhile, the first two weeks in June in Beijing commercial housing transaction price reached 28,556 yuan / square meter, up 4.2%. Transaction structure, the proportion of high-end rose significantly.

Bifurcation intensifies. First tier cities such as Shanghai and Shenzhen saw sales up 30% or more. Third tier sales are down:

"Although first-tier cities turnover rose, but appeared in the third-tier cities 22% down, the overall market is still not balanced very clear. The national real estate market is difficult to occur in the case of volume and price Qi Zhang. The differentiated real estate market has led to policy stimulate differentiation effect. "Dawei said," to enter in June, although the residential market turnover compared with the end of May has a rebound, but the performance is still more active second-hand housing market transactions performed relatively well. Centaline's 21 cities data show second-hand housing transaction area last week were down 17%, but lower than the first week of May rose by 6%, and still maintain a single week volume of 250 million square meters. Since March this year, the housing market has continued for three months by turnover month rise, approaching a high level at the end of last year, is expected in June to remain current transaction warming. "