The decline in Hainan property transaction volume over previous months has started to rebound in August, offering hope that the housing market recession may have subsided, reports xinhuanet.com.
 
According to the National Bureau of Statistics, the Hainan house transaction volume in August hit 2,835 units, up 21.36% from the previous month.
 
The transaction volume of properties in Haikou rose by 19.35% month-on-month in August, the largest increase among other cities on the island. The average price of property in Haikou is 8,498 yuan per sqm.
 
Affected by measures launched by the government to limit the number of homes a family can purchase in Hainan, the transaction sales in Sanya have largely gone down month-on month. In August, the transaction volume reached 298 units, accounted for 11% of total numbers on the island.
 
In August, the top 5 cities on the list of average property prices in Hainan were: Lingshui (32,563 yuan per sqm), Sanya (24,045 yuan per sqm), Haikou (8,498 yuan sqm), Chengmai (7,033yuan per sqm) and Wenchang (6,810 yuan sqm).  
 
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Translated by WOS Team
 
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