China Property Market Sales Rose in May

The CIH pointed out that the overall sales volume of the property market in May rose month-on-month. The transaction area in first-tier cities decreased by 12.8% from the previous month, and only Guangzhou saw a slight increase from the previous month. The transaction area in second-tier cities rose by 12.2% on the month. The total area of inventory decreased slightly, and Beijing saw the largest decrease with a drop of 3.00% month-on-month.

In terms of land, in May, the overall supply in monitored cities fell slightly year-on-year; the financing types of real estate companies are mainly corporate bonds, and real estate companies mainly purchased land in Hangzhou, Wuxi, Xi'an, Foshan and Qingdao.

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