Beijing sold 125,000 new homes in 2016

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A total of 125,000 new homes, excluding affordable housing, were sold in Beijing in 2016, rising by 21 percent year-on-year, the highest amount since 2010, according to statistics released by a market researcher.

In regard to the transaction volume, the year of 2016 looked like a downward parabola. This is because few homes were for sale in the first quarter, while transactions kept rising as a lot of new estates hit the market in the second and third quarters; in the last quarter, sales plunged after new policies aimed at regulating real estate were implemented.

Apartment and villa sales soared last year. The sales of apartments totaled 67,000 units, accounting for 53.8 percent of commercial property transactions, up 213.6 percent year on year; villa sales totaled 8,055 units, up 119 percent year on year, setting a record high.

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