Guangzhou Existing Home Price Up for Five Consecutive Months

ts saw their existing house transactions fall by both volume and price in the first half of the year, with volume declines ranging between 27.2% and 60.7% and average prices declines between 1.2% and 11.4%. Only in the city center of Tianhe District, the volume of sold existing housing fell but prices rose slightly.

Some analysts argued that the average price of existing homes was likely to be pushed up when the proportion of high-priced properties sold in the central area went up and the proportion of low-priced properties sold in the suburbs decreased.

This is supported by the fact that the volume of existing house transactions in the peripheral areas of Guangzhou fell more significantly compared to the central areas. The three districts with the biggest drops in volume in the first half of the year are Nansha District, Huangpu District and Zengcheng District, which reported volume drops of 61.0%, 55.3% and 54.4%, respectively

The volume of transactions in the central region fell by a narrower margin. Liwan District, Yuexiu District, Baiyun District and Haizhu District fell by 32.1%, 41.1%, 41.1% and 42.3% respectively.

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