Middle Finger Research Institute: The new housing market in 30 representative cities has continued to improve from January to August.

The China Index Research Institute stated that compared to the period from January to August 2023, in the period from January to August 2024, the proportion of transactions of residential properties above 120 square meters in 24 out of 30 representative cities increased, indicating a continued improvement in the new housing market trend. In particular, in Shanghai from January to August, 4,332 units of affordable housing below 90 square meters were sold, accounting for 12.2% of transactions, a decrease of 0.8 percentage points compared to the same period in 2023. The number of transactions for properties above 200 square meters was 2,286, accounting for 6.4% of transactions, an increase of 3.8 percentage points compared to the same period in 2023. The main points of the China Index Research Institute are as follows: Residential Product Structure Characteristics 1. Distribution of transaction area segments in 30 cities nationwide Compared to the period from January to August 2023, in the period from January to August 2024, the proportion of transactions of residential properties above 120 square meters increased in 24 out of 30 representative cities. 2. Structural characteristics of hot cities (1) Structural characteristics of transactions in Shanghai from January to August 2024 In terms of the area structure of transactions, in Shanghai from January to August 2024, 4,332 units of affordable housing below 90 square meters were sold, accounting for 12.2% of transactions, a decrease of 0.8 percentage points compared to the same period in 2023. 28,884 units of properties between 90 and 200 square meters were sold, accounting for 81.4% of transactions, a decrease of 3.0 percentage points compared to the same period in 2023. 2,286 units of properties above 200 square meters were sold, accounting for 6.4% of transactions, an increase of 3.8 percentage points compared to the same period in 2023. In terms of the total price structure of transactions, properties below 5 million RMB accounted for 34.5% of transactions, a decrease of 3.9 percentage points compared to the same period in 2023. Properties in the price range of 5-10 million RMB accounted for a decreased percentage of transactions, reaching 41.1%. Properties above 10 million RMB accounted for 24.4% of transactions, an increase of 5.6 percentage points compared to the same period in 2023. (2) Structural characteristics of transactions in Hangzhou from January to August 2024 In terms of the area structure of transactions, in Hangzhou from January to August 2024, 1,408 units of affordable housing below 90 square meters were sold, accounting for 5.0% of transactions, a decrease of 2.2 percentage points compared to the same period in 2023. 24,255 units of properties between 90 and 200 square meters were sold, accounting for 86.7% of transactions, remaining relatively stable compared to the same period in 2023. 2,302 units of properties above 200 square meters were sold, accounting for 8.2% of transactions, an increase in percentage points. In terms of the total price structure of transactions, properties below 3 million RMB accounted for 23.3% of transactions, a decrease of 11.0 percentage points compared to the same period in 2023. Properties in the price range of 3-5 million RMB accounted for 54.3% of transactions, an increase of 10.1 percentage points compared to the same period in 2023. Properties above 5 million RMB accounted for 22.3% of transactions. (3) Structural characteristics of transactions in Foshan from January to August 2024 In terms of the area structure of transactions, in Foshan from January to August 2024, 6,000 units of properties below 90 square meters were sold, accounting for 22.8% of transactions, a decrease of 0.6 percentage points compared to the same period in 2023. 19,489 units of properties between 90 and 200 square meters were sold, accounting for 74.0% of transactions, an increase of 0.5 percentage points compared to the same period in 2023. 3.2% of transactions were for properties above 200 square meters. In terms of the total price structure of transactions, properties below 2 million RMB accounted for 66.0% of transactions, an increase of 6.4 percentage points compared to the same period in 2023. Properties in the price range of 2-3 million RMB accounted for 20.5% of transactions, a decrease of 2.2 percentage points compared to the same period in 2023. Properties above 3 million RMB accounted for 13.5% of transactions. This article is from the WeChat public account of the China Index Research Institute, edited by GMTEight: Jiang Yuanhua.