This monthly publication contains the property news of Greater Bay Area in China. (The content of this monthly publication is only available in Simplified Chinese.)
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The residential property transactions relieved in August, ending a 4-month falling streak as homeowners lured buyers with steep discounts. A total of 3,247 cases was recorded in August, representing a 6% m-o-m increase, but market sentiment still pessimistic.
The adjustment of loan-to-value (LTV) ratio for properties announced in July did little to stimulate home buying against a backdrop of rising mortgage rates and gloomy economic outlook. Homeowners have been slashing price to offload their property, dragging the private home prices down 1.4% m-o-m in August to the lowest level in seven months. The index declined for a fourth straight month…..
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Rising mortgage costs and a bleak economic outlook have deepened market pessimism, with residential property transactions shrinking for the fourth consecutive month. In July, there were only 3,065 registered cases, a decrease of 15% over the month ago and a six-month low.
Many prospective home buyers stayed on the sidelines due to the dampened market sentiment. Of the total agreements recorded in July, only 2,255 were specifically for the secondary market, indicating a 13% decrease from a month earlier and hit a…
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This quarterly publication contains the latest social and economic statistics of China, as well as a detailed analysis of the residential, office and retail markets. (The content of this quarterly publication is only available in Simplified Chinese.)
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Housing market cooled off in the second quarter with total registered transactions for residential property fell 13% q-o-q to 12,199 due to the prospects for further interest rates increase and the failure of China’s recovery to live up to high expectations.
Of the total agreements recorded during the Q2, only 8,630 were specifically for the secondary market, indicating a 23% decrease from a quarter earlier. Nevertheless, new home sales saw a substantial 27% q-o-q increase to 3,569 registered contracts, hitting a 3-quarter high, mainly bolstered by the decent sales of competitively priced new projects.
The luxury homes market bucked the downward trend in the local property market. For instance, a 7,042 sq ft (s.a.) detached house at Mount Nicholson in The Peak, was transacted at……
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Dampened by the rise in local mortgage rates, total registered residential transactions dived 13% m-o-m to 4,003 cases in May, marking the second consecutive month of decline and a 4-month low. Potential buyers with lower affordability had turned more cautious due to the home prices saw a strong comeback with about 5.6% rally in the first four months of this year.
Developers slowed down for the new launches during the month, dragging down the number of first-hand residential property transactions by a whopping 35% to 1,000, while the secondary home deals slid by…
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This monthly publication contains the property news of Greater Bay Area in China. (The content of this monthly publication is only available in Simplified Chinese.)
Please click HERE to download the report.
The housing market cooled off in April as the large number of outbound traveling during the long Easter and Ching Ming holiday, with total residential transactions dropped 31% from a month earlier to 4,583 cases. Of these, new home sales fell 13% m-o-m to 1,550 cases, while secondary market deals slumped 38% m-o-m to 3,033 in April.
Looking ahead, enthusiasm for purchasing second-hand flats seems to have dampened by the fact that many new developments being sold at low prices and the specter of interest rate hikes….
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