Beijing Home Sales Down 40 Percent

Beijing home sales are running 40 percent off their April peak in the first week of May. The 800-plus transactions last week was the lowest sales figure in 2016 outside of the two weeks of Spring Festival holiday. A greater amount of cheaper housing lowered the average transaction price by 3.8 percent from the week earlier. Fangshan saw 27.8 percent of total turnover, likely due to the overflow in the wake of Tongzhou's buying restrictions.

iFeng: 北京新房周成交量跌破千套 环比下降四成

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