Weekly home sales in China’s major cities in first three weeks of Jun lower than May, down 20% on year – research
DATA REAL ESTATE
Weekly home sales in China’s major cities in first three weeks of Jun lower than May, down 20% on year – research
DATA REAL ESTATE

Weekly home sales in China’s major cities in first three weeks of Jun lower than May, down 20% on year – research

 

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Weekly residential property transactions in China’s 50 major cities over the first three weeks of June were slightly lower than the average weekly level in May and slid about 20% from the same period last year, according to China Index Academy, one of leading real estate research firms in the country. 

Since the second quarter of the year, China’s real estate market has shown an obvious cooling trend and potential home buyers’ sentiment has stayed weak, it said.

During the Dragon Boat Festival holiday, except a few cities, most Chinese cities’ new project introduction was weak and although property developers’ sales offices launched promotional activities, the weak market sentiment and high temperature weather has led to lower customer visits and sales performance was lukewarm, it said.