Soufun.com’s researched arm just published that sales in Beijing fell 19 percent in the first three quarters of the year and prices dropped an average of 10%.
In the meantime, Shanghai’s transactions (on paper) are down 5% yet prices rose 14% in the period from January 2011 to September.
According to China Daily and reports the offiicial home prices are up by 1.5% in 2009.
Are you serious?
1.5%
I guess you can argue that prices fell and are up just a few points since 2008, but for 2009? A real boom year?
We had so much influx in new buyers we couldn’t find places fast enough, and in the year that downpayment speculators became big?
It seems highly unlikely, in 2009 the Lakeville’s 3rd Phase re-emerged, and so did several slow selling properties from 2008.
Even though few of them sold, prices were still cut significantly in 2008 and have bounced back an astonishing amount in 2009, to many in the industry.
A boom year.
Read the China Daily Article.
Ok, maybe I’m biased, it’s only Shanghai I know and have insight too.
But there is also hainan that was on the news.
Hangzhou, Suzhou and Chengdu have rebounded, and I find it hard to believe that this was a mere 1.5%.
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