Sanya see housing transaction volume drop in Feb 2011
According to figures from the National Bureau of Statistics (NBS), the prices for new middle and high-end commercial residential properties in Sanya still show a strong growth while the house transaction volume has dropped greatly in February, reports hinews.cn.
In January, the prices for new commercial residential properties in Sanya rose by 0.4% year-on-year, and ranked 45th among the 70 major cities in China.
Under the background of developing Hainan into an international tourism island, the surging house prices still attract a growing number of investors.
However, as the Sanya Municipal Government plans to launch a set of 8 measures to rein in house purchases in Sanya at the end of March, many market observers believe the new policy will substantially cut the housing market demand in the future.
Translated by WOS Team
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