Beijing’s second-hand home transactions hit lowest since Feb, down 16.3% on month
DATA REAL ESTATE
Beijing’s second-hand home transactions hit lowest since Feb, down 16.3% on month
DATA REAL ESTATE

Beijing’s second-hand home transactions hit lowest since Feb, down 16.3% on month

 

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Second-hand home transactions in China’s capital city Beijing reached 9,718 units in July, sliding 16.3% from the previous month and marking the lowest level since February this year, according to data from the municipal housing authority. 

Beijing’s second-hand home transactions have been falling since April after a short rebound driven by pent-up demand and the housing market remains sluggish, said industry insiders. 

Since late July, Chinese authorities have pledged to optimize real estate policy and support the housing market and housing market transactions will likely gradually stabilize in August, though it will take time for policies to kick in, they said.