New home sales area surge in Guangzhou

First-hand residential property sales by areas surged nearly 70 percent in Guangzhou this month from a year ago, official data showed.

The sales area registered with authorities reached 823,500 square meters from December 26 to January 25, up by 69 percent year-on-year, about 22.8 percentage points higher than the monthly average growth in 2024, according to the Housing & Urban-Rural Construction Commission of Guangzhou Municipality.

The average transaction price of first-hand residential property has achieved positive growth compared with December 2024 as market confidence rebounds.

The average daily sales area registered of the second-hand residential property reached 39,300 square meters in January, remained high since the fourth quarter of 2024.

Staff reporter