BEIJING, Mar 20 – Seventeen out of the 40 monitored Chinese cities witnessed their commercial home sales drop year on year last week (from March 12 to March 18), according to the latest statistics released by China Index Academy (CIA).,
CIA statistics show that home transactions in five of the cities posted more than 50 percent year-on-year drop, among which Dalian in northeast China’s Liaoning province ranked first with home sales plunging 81.57 percent year on year, followed by Luzhou, in southeast China’s Sichuan province, with 61.81 percent fall.
Among the key Chinese cities, only Tianjin witnessed its home sales rise on a year-on-year basis.
Four out of the 5 Chinese first-tier cities witnessed their commercial home sales prices rise week on week last week.
Guangzhou was the only first-tier city to see its average home price post a week-on-week drop at 10,670 yuan/square meter from 10,926 yuan/square meter in the preceding week, with home sales rising from 1,407 units to 2,005 units.
The average home price in Beijing posted a week-on-week increase last week at 19,944 yuan/square meter from 19,936 yuan/square meter, with home sales increasing from 1,350 units to 1,669 units.
Shenzhen and Shanghai saw their average home prices at 16,901 yuan/square meter and 13,073 yuan/square meter on average with their weekly home sales at 728 units and 2,506 units, respectively.
The average home price in Tianjin posted a week-on-week increase at 9,939 yuan/square meter from 9,565 yuan/square meter in the preceding week, with home sales increasing from 1,523 units to 1,624 units.
In the first 12 weeks of 2012 (from December 26 to March 18), the property transaction volume dropped in 8 out of the 10 monitored key Chinese cities.
The 10 cities are Beijing, Shanghai, Shenzhen, Guangzhou, Suzhou, Hangzhou, Chengdu, Tianjin, Nanjing, and Chongqing.
Suzhou and Chongqing witnessed their home sales area increase during the period with year-on-year growth rate at 69.2 percent and 8.98 percent, respectively.
Tianjin was on the top of the list with home sales plunging 58.89 percent year on year during the period. It was followed by Chengdu, capital city of southwest China’s Sichuan province, where home sales dropped 47.09 percent year on year in the period.
Home sales in Beijing, Shanghai, Shenzhen, Guangzhou and Hangzhou respectively dropped 33.59 percent, 23.52 percent, 29.22 percent, 27.96 percent and 46.12 percent year on year during the same period.