Tongzhou Buying Restrictions Kill Market, Sales Drop 99%

Prior coverage
May 6: First Time Ever: Individuals Cannot Buy Commercial Property in Tongzhou
May 8: Analysts Estimate Tongzhou Buying Restrictions Will Affect 80 pc of Sales
May 10: Tongzhou Buying Restrictions Wipe Out Sales, Buyers Move to Daxing

Today:

May 5 evening, the Beijing Municipal Construction Committee, Tongzhou District People's Government jointly issued "on the strengthening of Tongzhou District, a business-friendly apartment and commercial office project sales management notice." In the future, Tongzhou District residents looking to buy a business-friendly apartment should meet the city's residential restriction conditions, there are family room, non-city residence, not to buy a business-friendly apartment. Commercial, office project sales target is also limited to enterprises and social organizations, residents no longer sold.

According to Centaline Property Research Department data, since the May 5 purchase restrictions, Tongzhou apartment transactions can say there has been a tremendous change, volume plummeted to freezing point. In one month with buying restructions, Tongzhou purchase volume fell more than 99%, the cumulative contracted apartments only 13 sets, the market completely frozen. From a market share perspective, one month before and after the purchase, Tongzhou market share down from 63% to 0.3% a straight line drop.

iFeng: 通州限购后售楼处冷清 公寓整月仅卖出13套