New Year housing sales drop 60% in Beijing
Updated: 2012-01-04 15:14
(chinadaily.com.cn)
|
|||||||||||
A total of 570 houses were sold in Beijing during the three-day New Year holiday, a 60 percent drop compared with the same period last year, China News reports.
Statistics from the Beijing Municipal Commission of Housing and Urban-Rural Development website show that of the total, 541 were newly built properties, a 57 percent decrease from last year. Some 29 houses were second-hand, a drop of 84 percent.
It is believed the restrictive policies on house purchases and loans in 2011 caused the lowest housing trade volume in Beijing in over the last ten years.
The market will keep cooling until the end of this year, due to the continuing policies, the paper said, quoting Zhang Dawei, an analyst with Centraline Property in Beijing.
Related Stories
Beijing revising housing rules 2011-12-03 07:51
Housing market cools in Beijing 2008-10-24 10:51
House prices in Beijing slump 2008-10-10 21:53
- Measures to boost buying amid export decline
- China protests islands visit by Japan
- China to play greater role in 2012
- China axes TV entertainment shows
- New Year's art starts controversy
- Taliban to set up office in Qatar
- Man used fake Wendi Deng Twitter
- CPI to ease further this year despite inflation
Hot Topics
Kim Jong-il, Mengniu, train crash probe, Vaclav Havel, New Year, coast guard death, Internet security, Mekong River, Strait of Hormuz, economic work conference
Editor's Picks
Boy is first to be airlifted for medical care |
New year, new snow |
Hungarians protest against new constitution |
Ice Castles in Colorado |
Clijsters back for Australian Open with winning start |
Li Na says 'cheese' with baby kangaroo in Australia |