High-end housing sees resurgence in Beijing

Source:Global Times Published: 2016-1-7 23:23:01

Beijing witnessed a smooth recovery of the high-end residential segment of the property market from September to November 2015, said a report released Thursday by DTZ/Cushman & Wakefield, a commercial real estate services provider.

According to the report, the average transaction price in the high-end residential market in Beijing reached 59,576.9 yuan ($9,033) per square meter during the period, an increase of 2.9 percent over that of the previous three-month period, and the transaction volume increased by 21.8 percent year-on-year.

Also, the average price for luxury apartments increased by 5.8 percent from the previous three-month period to 65,681 yuan, while the price for villas decreased by 1.3 percent to 50,027 yuan per square meter.

The report also said that in Beijing's new commercial housing market, which excludes affordable housing, the average transaction price reached 28,236 yuan per square meter, an increase of 5.4 percent over the previous three-month period and an increase of 17.1 percent year-on-year.

Government policy support and high-priced land entering the market pushed up Beijing's housing prices and product positioning, the report said.



Posted in: Economy

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