China Index Academy data show new-home sales floor area across 30 major cities
rose 1.4% YoY from Sept. 1-20. First-tier cities continued to post growth; the
recovery remains concentrated in core, high-quality districts and projects, with
ongoing structural divergence. In 20 key cities, second-hand residential
transaction volumes (units) rose 13.1% YoY; Beijing and Shanghai recorded YoY
volume gains for a seventh consecutive month. Cao Jingjing, GM of the Index
Research Department, said the Aug. 28 policy has had limited direct impact on
near-term supply rhythm and that subsequent market performance will depend on
demand release and project marketing intensity.
