Sanya sees decline in housing transaction area numbers in H1 of 2014
During the 6-month period, there was a 39.4% year-on-year decline in the housing transaction area of commercial residential properties to 445,000 square meters.
The developers continued to be optimistic regarding Sanya’s property market and did not resort to offering discounts in order to achieve transactions despite the falling transaction area.
Besides, Sanya’s real estate sector is undergoing a transition and the proportion of the development of business real estate including resort hotels, theme hotels and commercial buildings has risen from 14.9% to 26.9%.
In the months to come, the Local Statistics Bureau authorities are suggesting that developers organize some promotional activities in major domestic regions like Beijing, Shanghai, Chongqing, Shanxi and northeast regions to show off the real estate offerings in Sanya.