Spring Festival Real Estate Sales Weak

Wuhan saw 182 sales during Spring Festival versus only 27 in Beijing. High prices in first-tier cities are being blamed for the weakness.
February 15, 2016, data from the China Index Research Institute show that during the 2016 Spring Festival of 30 cities monitored the area week on week turnover fell 82.2%, following last week continued to fall. 30 City turnover decline monitor all; compared with the same period in 2015, representatives of 30 cities this week, trading volume fell 85.3% overall, 30 cities fell.

City points of view, with each tier cities turnover decreased MoM. First-, second- and third-tier cities all fell, of which the first-tier cities falling most significantly, a decline of 93.7%; year-on-year, each tier cities have different levels of decline, first-tier cities most obvious decline, 95.4 %.

Some industry insiders told reporters commented that due to the first-tier cities are too expensive, some of the native population in the field after the Spring Festival Spring Festival Fangui House will take time to enter the market downturn in the property market.
iFeng: 春节楼市冷热不均 北京连续8年零供应

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