New Housing Transactions In 50 Chinese Cities Fell 13%, Recovery Of The Property Market In May Slowed Down

Published: May 25, 2023 16:20

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On May 24, Shanghai E-House Real Estate Research Institute released the Forecast Report on New Housing Transactions in 50 Cities in May 2023. The Report shows that from May 1-22, the transaction area of new commercial housing in 50 key cities across the country was 11.99 million square meters, a drop of 13% from April 1-22, but up 2% from May 1-22, 2022.

The transaction area of new commercial housing in 50 key cities across China is expected to be 16.9 million square meters in May, down 13% month-on-month but up 2% year-on-year. According to the Report, among the 50 key cities, 18 cities showed a month-on-month growth trend, and 32 cities registered a decline.

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