Beijing sees pre-owned housing transaction boom

Staying in that sector but back in Beijing, and looking at the market for pre-owned housing. A downturn over the Spring Festival is apparently over, with transaction volumes rising in the second week of March.

More than 32-hundred units were sold between Monday and Thursday last week. And the total figure for sales between Monday and Sunday is expected to hit more than 44-hundred units, three times the transaction volume for new properties. And if that forecast is correct, that would mean the second week of March seeing the sale of second-hand homes rising 9 percent from the first week of the month. However, according to analysts, despite the rise in transactions, average prices of pre-owned housing have changed little between the first and second weeks of the month.