The total floor space for completed property transactions in China’s first and second-tier cities continues to decline as regulators maintain their crackdown on urban real estate markets.
Data from Wind Information indicates that the total floor space of property transactions in four key first-tier cities last week was 491,000 square metres, for a decline compared to the preceding week of 15.8% and a year-on-year drop of 43.82%.
Data from other sources also point to declines, with GF Securities data indicating that all of the four main first-tier cities with the exception of Shenzhen saw transaction floor space declines last week, with the figure for Guangzhou dropping by 39.4%.
Huachuang Securities data indicates that 45 major cities saw transaction floor space slide by 17% last week, with first and second-tier cities seeing 16% declines and third and fourth-tier cities seeing 20% declines.
