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July housing transactions down in first-tier cities

(chinadaily.com.cn)
Updated: 2009-08-04 11:35

The total area of commercial housing transactions in 30 cities dropped four percent month-on-month in July, with monthly transactions in first-tier cities like Beijing, Shanghai, Guangzhou and Shenzhen experiencing a decline that month, the Shanghai Securities News reported today.

Shanghai had its first monthly transaction decline this year, with a total area of commercial housing transacted dipping 5.37 percent month-on-month to 1.94 million sq m in July, according to the Shanghai-based Uwin Real Estate Information Service Co.

Related readings:  Public housing in need  Luxury apartments push up housing prices in Shanghai  China's housing market recovers  Housing starts bounce back

Sales of forward delivery commercial housing in Beijing totaled 10,862 units (excluding 1,972 units of policy-favorite apartments), or 350 units daily -- 9.1 percent lower from the daily sales of 385 units in June, according to statistics released on the city's housing transaction management authority website.

During the same month, a total of 6,653 units of apartments were sold in Guangzhou in July, a decline of 36 percent compared with the 10,502 units transacted in June. And July transaction volume was almost half that of May, according to statistics released on g4c.laho.gov.cn, a website under the city's real estate transaction supervising agency.

Meanwhile, purchased areas of newly built commercial housing in Shenzhen fell to 548,300 sq m in July, a decline of 17.4 percent from June, according to statistics from the Shenzhen Bureau of Land Resources and Housing Management.