CCTV.com - CNTV English - CCTV News

Beijing house sales drop

07-19-2010 11:16 BJT

Watch Video

Play Video

From April 15th to July 15th, Beijing recorded sales of only 37 thousand under-construction apartments. That's down by more than 50 percent compared to the same period last year, but the figure is comparatively stable month-on-month.

June has witnessed the sharpest drop yet in Beijing's under-construction apartment market. Sales of properties being built shrank from more than 18 thousand units last year to only 6 thousand units. More than 30 percent of buyers chose houses with average prices between 10 to 15 thousand yuan per square meter, and houses under 90 square meters are the best sellers.

The government's new policy aimed at curbing the real estate sector was launched in mid-April. Daily transaction volumes in late April were down by more than 70 percent compared to that of early April. That volume has since climbed slightly in the following two months.

Going by the June figures, the current stockpile of new houses in Beijing will take 11 months to be sold.

Industry insiders say land supply has recently changed.

Cai Hongyan, Official of China Real Estate Association said "Companies may pay more attention to commercial land or land for subsidy housing."

But even though sales volumes have plunged in recent months, the daily transaction remains stable - suggesting that demand for housing is still high.

Editor:Xiong Qu |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program