Property sales halve in another Chinese city

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From Caijing:

September 25, the main city of Nanjing, announced the purchase of the property market carried out, followed by the introduction of “rather thirteen” and upgraded version of the restriction order. Today, Nanjing purchase of that time has been the past month, at which time the property market in Nanjing, a significant cooling.Data show that since October the Nanjing property market daily average of 205 units, while the average daily trading volume September 26 since the implementation of the New Deal to 262 units, while the average daily trading volume in September was 440 units.

September 25, the main city of Nanjing, announced the purchase of the property market carried out, followed by the introduction of “rather thirteen” and upgraded version of the purchase order, to the foot of the property market in Nanjing under drastic. Today, Nanjing purchase of that time has been the past month, at which time the property market in Nanjing, a significant cooling.

According to Nanjing online real estate statistics show that in October the Nanjing property market average daily turnover of about 205 units, compared with September’s average daily trading volume fell more than half the 440 units, while the implementation of the New Deal in January compared to the daily average of the 9 month average daily trading volume fell 37%. For now, this downward trend will increase.

In a substantial volume decline in the situation, the developers have also increased efforts to push the plate, just this week, Nanjing will have 4398 apartment market, compared with the previous cover plate reluctant sellers, developers staged a battle over customers. In this regard, the industry said, after the restriction order, foreign investors crackdown is relatively large, but also just need some of the sidelines, the volume will continue to decline.

Prudential tightening working.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.