Cross-posted from Investing in Chinese Stocks.
Last week new homes sales and prices fell in Beijing. The “Gold September” sales are on pace to be flat yoy.
According to the chain of home network Institute of Statistics, Beijing third week of September (9.14 -9.20), new residential net signed volume is 1984 units, a decline of 21.2%. Pure commercial housing turnover (excluding affordable housing, since the housing, the same below) 1099 sets, dropped 7.3 percent last week, of which only five projects in the amount of net signed this week, more than 30 sets, the number of hot-selling items compared with July, a substantial decline in August, and selling projects outside the six-ring-based low-cost project, the average price of 15,000 / square meter or less.
