Real Estate Sales Still Declining in First, Second, Third Tier

On the basis of stabilizing fever prices in major cities in 2017, the property market continued to show a slightly steady downward trend in January 2018, with the volume of first-tier and second-tier cities declining.

According to a report released by China Index Research Institute, in January 2018, the transaction volume of new houses in the 28 major cities monitored decreased by 18.09% MoM, of which, the volume of transactions in more than 80% of cities dropped on a month-on-month basis. Among the 28 cities, the volume of first-tier, second-tier and third-tier cities showed a downward trend in varying degrees and the effect of regulatory policies continued to show.

Turnover area of ​​first-tier cities dropped 27.92% MoM, of which, Beijing and Guangzhou dropped significantly, both over 30%. Turnover of second-tier cities represented a decrease of 18.97% compared with that of the previous year. Among them, transaction volume in Changsha, Nanning, Chengdu and Jinan dropped significantly. Transaction volume of the third-tier cities dropped 6.25% from the previous month, of which transactions in Dongguan, Huizhou and Shaoguan declined more.
iFeng: 调控政策效果持续显现 一二线城市楼市继续下降

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