China’s Real Estate Market in August, 2009 (Housing Price increases but trading volume declines)
Housing Prices in China continue to increase, trading volume has declined for two consecutive months
Despite China’s housing prices in many cities continue to increase, but the double influence from off-season and policy adjustments, 30 major cities nationwide housing transaction volumes continued to decline in August. This is the second consecutive month for the decline of trading volume in this year.
According to the China Real Estate Index System published in Shanghai on the 5th: August, Shanghai continues to lead the national real estate market, the trading volume reached 2.4 million square meters, but it still reduced 10% compared with the last month. Beijing, Guangzhou and Shenzhen also have varying degrees of decline. 1.75 million square meters in Beijing with most significant decline of 18%; Shenzhen has been a noticeable decline for the third consecutive month, only about 500,000 square meters.
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