Hainan house market sees decline in transaction area & sales in Q1 of 2014
According to a report released by the Hainan Statistical Bureau, the housing transaction area in Hainan in the first 3 months of the year reached 2.43 million square meters with a sales volume of 26.6 billion yuan, a decrease of 6.6% and 8.9% over the same period last year.
Sanya and Haikou’s commercial residential property market experienced a significant decline in both transaction area and transaction sales in the period.
In Sanya, there was a 43.4% year-on-year decline in the transaction area of commercial residential properties in first quarter of this year to 258,500 square meters, while in Haikou it was 497,600 square meters, a 10.1% year-on-year decrease.
The sales area of residential properties in the eastern and central areas of the province were 1.63 million sqm and 188,200 sqm, representing a 12.7% and 4% year-on-year decrease, respectively.
Meanwhile, the western area saw 607,900 sqm, up 14% over the same period of last year.
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