The downward trend of the real estate market in May still needs to increase trust and promote transformation
2023-06-16
The latest data shows that in May, the overall month on month increase in the sales prices of newly built commercial residential buildings in 70 large and medium-sized cities decreased, while the prices of second-hand residential buildings decreased month on month. The year-on-year increase in the sales prices of commercial residential buildings in first tier cities has slowed down, while the overall year-on-year decline in second and third tier cities has slowed down. Sheng Guoqing, chief Statistician of the Urban Department of the National Bureau of Statistics, said that from the perspective of new commercial residential buildings, in May, the sales price of new commercial residential buildings in the first tier cities rose 0.1% month on month, 0.3 percentage points lower than that of the previous month, with Beijing, Shanghai and Guangzhou rising 0.2%, 0.3% and 0.1% month on month respectively, and Shenzhen falling 0.2% month on month; The sales price of newly built commercial residential buildings in second tier cities increased by 0.2% month on month, a decrease of 0.2 percentage points compared to the previous month; The sales price of newly built commercial residential buildings in third tier cities has remained unchanged from a 0.2% increase in the previous month. From the perspective of second-hand residential properties, in May, the sales prices of second-hand residential properties in first tier cities decreased by 0.4% compared to the previous month, with Beijing, Shanghai, Guangzhou, and Shenzhen decreasing by 0.6%, 0.8%, 0.2%, and 0.1% respectively; The sales prices of second-hand residential buildings in second and third tier cities have decreased by 0.3% and 0.2% compared to the previous month, respectively. In May, out of 70 large and medium-sized cities, the number of cities with a month on month increase in sales prices of commercial residential buildings decreased. There were 46 cities with a month on month increase in sales prices of new commercial residential buildings and 15 cities with a month on month increase in sales prices of second-hand residential buildings, a decrease of 16 and 21 cities with a month on month increase. Sheng Guoqing introduced that in May, the sales prices of newly built commercial residential buildings and second-hand residential buildings in first tier cities increased by 1.7% and 0.4% year-on-year, respectively, with a decrease of 0.3 and 0.5 percentage points compared to the previous month. The sales price of newly built commercial residential buildings in second tier cities increased by 0.5% year-on-year, an increase of 0.3 percentage points compared to the previous month; The sales price of second-hand residential buildings decreased by 2.1% year-on-year, a decrease of 0.1 percentage points compared to the previous month. The sales prices of newly built commercial residential buildings and second-hand residential buildings in third tier cities decreased by 1.6% and 3.3% year-on-year, respectively, with a decrease of 0.3 percentage points compared to the previous month. In May, out of 70 large and medium-sized cities, 26 cities saw a year-on-year increase in the sales prices of newly built commercial residential buildings, an increase of 4 compared to the previous month; There are 9 cities with a year-on-year increase in second-hand housing, the same number as last month. In February and March of this year, as the economy and society returned to normal operation, the previously suppressed housing demand was released quickly, and the real estate market experienced a certain rebound. In May, the real estate market remained generally stable, but due to multiple factors, real estate development and construction remained relatively sluggish, and the market was still slowly recovering. According to Fu Linghui, spokesperson for the National Bureau of Statistics and Director of the Department of Comprehensive Statistics of the National Economy, in the first five months, the sales area of commercial housing in China decreased by 0.9% year-on-year, while sales increased by 8.4%, a decrease of 0.4 percentage points from the previous four months. From the perspective of development and construction, there has been a decrease in newly started construction. The real estate market is slowly recovering, and real estate companies have a weak willingness to develop new projects. In the first five months, the newly constructed area of houses decreased by 22.6% year-on-year, an increase of 1.4 percentage points compared to the previous four months. At the same time, the completed area has significantly increased, and driven by the "guaranteed delivery of buildings" policy, various regions have strengthened
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：economic daily
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