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Trading volume & prices of Beiing real estate drop in April


04-25-2016 16:58 BJT

Beijing's home prices stabilized in April. Prices in some areas decreased slightly on the back of falling trading volume, and that made some space for a bit of bargaining between buyers and sellers.

The trading volume for Beijing's second-hand properties has been dropping since the end of February and home prices have fallen a touch in some areas.

"In March, there were 17 properties sold in this community, with an average price of 76 to 78,000 yuan per square meter. In April, we only sold 6 properties. One property was sold at 70,000 yuan per square meter," said Ye Zhongbo, property agency staff.

Analysts say the market will cool down more in the second quarter.

"There will be a big drop for the trading volume in the second quarter. But it's going back to the rational level, with an average of about 15,000 properties a month. The prices will be stable. In the second half of the year, I think the market will be more rational, if there's no major stimulus measures issued," said Hu Jinghui, vice president of 5I5J.

In the first half of April, the trading volume of second-hand homes in Beijing dropped nearly 35 percent from March. Prices were an average 1.4 percent lower in the same period.

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