Beijing Home Transactions Spike 25%


Transactions of residential properties in Beijing rose 25 percent month-on-month to 5,500 units in February, and the average transaction price was under 20,000 yuan per square meter, reports Legal Evening News, citing the Beijing Municipal Commission of Housing and Urban Rural Development.

Excluding affordable homes, the number of units transacted in the capital city in February totaled 1,800 units, up 12.1 percent from January. 

Seven new developments supplying a total of 2,369 units were launched in February.

According to Feng Lianlian, an analyst at property website Homelink, the transaction volume in February was supported by sales of affordable homes, with transactions of commercial residential homes staying at low levels.

The average transaction price of commercial residential housing in February was 18,478 yuan per square meter, down 25.6 percent year-on-year and unchanged from January.

Transactions in the outer suburbs of Beijing accounted for 88 percent of the total, with average transaction prices continuing to trend down.

According to Homelink, Beijing had home inventory of 120,000 units at end February.

Shares of Beijing Dalong Weiye Real Estate Development (600159) rose 0.24 percent to close at 4.14 yuan per share today.


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