In 2016, new commercial housing prices in Shenzhen were the highest of anywhere in China, and Chengdu had the largest transaction volume, according to a report released by E-house China R&D Institute on Feb. 20, China News Service reported.
Yan Yuejin, manager of the institute's think tank, explained that the report lists the top 50 Chinese cities in terms of new commercial housing transaction volumes in 2016. The transaction volume in the top 50 cities accounted for 38 percent of total volume across the country.
With regards to transaction volume, the top three cities were Chengdu, Wuhan and Tianjin. The total sold volume in those cities was 29.09 million square meters, 28.81 million square meters and 23.32 million square meters respectively. Zhenjiang, Zhangzhou and Wuhu led the list in terms of transaction turnover speed, with each city witnessing huge sales growth compared to the previous year.
Meanwhile, Shenzhen, Shanghai and Beijing had the top three highest property prices. In 2016, the average transaction price of a new commercial housing property in Shenzhen was 53,744 RMB per square meter; in Shanghai the number was 38,283 RMB, and in Beijing it was 33,412 RMB. Affected by housing price regulations put into effect from the fourth quarter of last year, skyrocketing housing prices have been restricted somewhat, beginning to fall by the end of the year.
New commercial housing prices in Shenzhen, Suzhou and Dongguan grew most rapidly last year, with respective year-on-year increases of 56 percent, 43 percent and 38 percent.
