Housing Market Sees Increases in Sales Even with National Policy Implementation

Housing Market Sees Increases in Sales Even with National Policy ImplementationEven with the recent implementation of the national policy that is intended to cool down the housing market, the city still saw a surge in the sales of new homes. Data released by Centaline Property has shown that there were 1,270 newly built homes sold on the first week of April the time the city announced the measures that were intended to curb the market.

During the first week of April the average transaction price of a new home was greater than 20,000 yuan per square meter showing a 5.9 percent increase compared to the previous week. A Vanke housing project in the Pingshan New Area sold out on April 2 the day they open their sales, while 16 more real estate projects are starting their sales this month even when prices continue to rise.

Real estate experts are saying that developers are expediting their sales for April for the fear of the national housing policies might be further tightened and to take advantage of the seasonal boost the market is experiencing. Meanwhile transactions that involves pre owned homes have decreased after April 1, experts were saying that the pre owned home market was cooling down as buyers were rushing to complete their purchases in March in anticipation of the 20 percent tax that  will be imposed on gains coming from pre-owned home sales.

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