27 February 2020

Beijing’s Jan-Oct new home sales exceed 200 bln yuan, paper says

A total of 73,581 new residential flats were sold in Beijing in the 10 months to October, with the combined transaction amount rising 14.4 percent to 200.46 billion yuan (US$32.88 billion) from a year earlier, Beijing Business Today reported Friday, citing data from Centaline Beijing. The municipal government earlier issued seven new regulations, commonly referred to as the “Beijing Seven Rules”, which will see 70,000 units of low-cost homes being released into the market. Under the new rules, owners must live in these homes and not sell them within five years, the report said.

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