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Beijing housing trading volume decreased by 45% in Aug

(chinadaily.com.cn)
Updated: 2009-09-02 14:29

After peaking in July, housing trading volume in Beijing showed a clear downward trend in August, Beijing Morning Post reported today.

According to statistics released by the city's housing transaction management authority's website (http://www.bjfdc.gov.cn) Tuesday, in August, 2,288 completed apartments were purchased, down 45.73 percent compared with July.

In August, apartments bought in Beijing before they were completed also dropped, falling to 12,117 units last month, down 5.63 percent compared with 12,840 units in July.

Niu Dao, an industry commentator and blogger who writes for real estate magazines, said excessively high housing prices caused average buyers to wait on purchases last month and instead just watch to see what the market would do.