Home prices in Sanya continue to decline in June
The transaction price of commercial residential properties in Sanya continued to fall in June as the home purchase restrictions and new mortgage policies has been cooling down the housing price hikes, reports xinhuanet.com.
In June, Sanya’s home prices in June decreased 0.1% month on month and dropped 2.0% from a year earlier. Meanwhile, home prices in Haikou remained unchanged from the previous month and up 0.7% from a year earlier.
In the second-hand house market, Sanya recorded a month on month price decline of 0.1% while a year on year increase of 1.7%, the National Statistics Bureau reported on Monday.
In the first 5 months of 2011, the total transaction area of commercial residential properties in Hainan was 3,630,700 square meters, up 17.4% over the same period of 2010.
Government tightening measures, such as stricter mortgage terms and home purchase restrictions s have comfirmed buyers' wait-and-see attitude for a substantial fall in home prices in the near future.
Translated by WOS Team
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