Sandy Li: ‘Golden Week’ Property Sales Plunge in Major Chinese Cities Amid Slowing Economy, Tight Mortgage Conditions https://www.scmp.com/business/article/3032030/golden-week-property-sales-plunge-major-chinese-cities-amid-slowing: "Sales of new homes in Beijing dropped to their lowest level since 2014 during the week following the National Day holiday. The seven-day holiday is traditionally a peak period for home sales.... Sales of new homes in Beijing dropped to their lowest level since 2014 during the week following the National Day holiday, according to data from the property information portal Zhuge.com.... Traditionally a peak period for sales, the seven-day holiday drew little interest from buyers who were unwilling to pursue big investments at a time when the national economy faces a slowdown caused by the trade war with the United States. Buyers’ appetite was further depleted by banks tightening mortgage loans and Beijing’s tougher measures to curb home prices.... Just 190 transactions were recorded in the primary residential market in Beijing during the golden week, down 19 per cent from 2018. In the secondary market, 41 used homes had changed hands, the second poorest golden week sales performance in the capital in the past five years...


#noted #2019-10-17

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