Dueling Headlines on Beijing Housing Market

Last weekend: 北京商住公寓成交均价破3万 8月创出29个月新高, Beijing home prices break 30,000 yuan per sqm, August sales hit 29 month high, average transaction prie up 40$ year-on-year. Tight supply is the reason offered for the strong rebound:
"For Beijing, the amount of housing available is limited, especially in the current high-end residential trend has been formed, the low price of residential housing scarce. In this case, the market can buy residential apartments in the main housing. "Centaline Dawei, chief analyst believes that reducing housing supply, resulting in commercial and residential apartment market is still in the heating process, the majority of residential apartments currently have a relatively complete living function, volume continued to rise or become a trend.

Today: 北京9月首周住宅成交下滑47% 创18周新低, Beijing home sales fall 47% week-on-week in the first week of September, new 18-week low. Existing home sales fell 40.1%. The industry though the holiday would boost sales, but maybe it had the opposite effect. Perhaps Beijingers took the opportunity to travel.

One week data is very volatile and with the parade interrupting normal business in Beijing, it is even less reliable a figure. That said, September and October are called the "gold and silver" months for Chinese real estate because sales increase in these two months. It was a surprisingly weak start to what is anticipated to be a very strong two months for sales.

No comments:

Post a Comment