Guangzhou’s luxury home sales surged in H1 despite sluggish housing market – research 
DATA REAL ESTATE
Guangzhou’s luxury home sales surged in H1 despite sluggish housing market – research 
DATA REAL ESTATE

Guangzhou’s luxury home sales surged in H1 despite sluggish housing market – research 

 

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Transactions of luxury houses priced above 10 million yuan per unit in China’s southern metropolis Guangzhou reached 2,668 units during the first half of 2023, marking a new record high and representing 85% of the full-year level in 2022, according to data compiled by China Real Estate Information Corporation (CRIC). 

Guangzhou sold 738 units of luxury houses in 2018, before surging to 2,820 units in 2021 and hitting 3,122 units in 2022, which was already a record high.

The surging transactions were mainly driven by prices, with the average price hitting 90,383 yuan per square meter in the first half of 2023, compared to 44,800 yuan in the first half of 2014, said CRIC.

The surging transactions were mainly driven by prices, with the average price hitting 90,383 yuan per square meter in the first half of 2023, compared to 44,800 yuan in the first half of 2014, said CRIC.