China Property Weekly Digest:Shanghai market rebounded faster than Shenzhen
Last week, sales volume in Tier I/II/III cities was up by9%/3%/4% w-o-w. After the 25-Mar tightening,Shanghai’s sales volume rebounded in the past 2 weeks tojust 10% below the average weekly sales before thetightening. (vs Shenzhen’s 54% drop in sales volume).
Sales volume in the past four weeks (ended 24-Apr) was0.2% higher than the average in Mar (ended 27-Mar).
YTD ASP is 3.2% above 2015's average.
Sales volume in the first 17 weeks of 2016 is 47% highery-o-y and is 15% higher than the 2015 average.
Inventory level as at the end of last week dropped slightlyw-o-w to 53 weeks (from 54 weeks the week before) andwas better than 2015's average of 64 weeks.