Beijing’ home sales surged in Sept from previous month, new home prices fell, second-hand home price hit 4-year high
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Beijing’ home sales surged in Sept from previous month, new home prices fell, second-hand home price hit 4-year high
STOCKS

Beijing’ home sales surged in Sept from previous month, new home prices fell, second-hand home price hit 4-year high

 

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China’s capital city of Beijing saw new home sales reached 5,891 units in September, surging 42.9% from the previous month, but siding 18.2% from a year earlier, widening from the 16.2% drop in August, according to data form Zhuge Real Estate Data Research Center. 

In September, Beijing relaxed home purchase restrictions by using home ownership instead of mortgage record for recognizing first-home qualification. 

The average new home price reached 53,522 yuan per square meter last month, sliding 8.1% from the previous month, but rising 18% from a year earlier, showed the data.

Beijing’s second-hand home sales reached 14,262 units in September, surging 30.1% from the previous month, but down 0.5% from a year earlier, narrowing by more than 20 percentage points from the drop in August, showed the data. 

The average price of second-hand homes reached 63,674 yuan per square meter, hitting a new high in nearly four years, rising by 1.38% from the previous month and up 5.37% from a year earlier, expanding by 1 percentage point from August, showed the data.