Table of Contents
Selling prices...................................................................................... 3
Average residential selling prices for China and major cities ....................................................3
Transaction volumes ......................................................................... 5
Average for China and major cities ...........................................................................................5
Historical and estimated completion and sales volumes trends ...............................................6
Weekly volume decline .............................................................................................................7
Secondary housing market .......................................................................................................9
China Vanke’s monthly presales ...............................................................................................9
New supplies ................................................................................... 11
New construction starts..........................................................................................................11
Improvement in FAI in property sector and GFA new starts...................................................12
Historical and estimated new construction starts...................................................................13
Local residential markets................................................................ 14
Pan-Bohai region.....................................................................................................................14
Yangtze River Delta region......................................................................................................17
Pearl River Delta region ..........................................................................................................19
Other regions ..........................................................................................................................21
Land supply and demand................................................................ 23
Land transactions in August 2009...........................................................................................23
Policy orientation ............................................................................ 24
Property sector policies ..........................................................................................................24
Prime rate movements ...........................................................................................................25
Housing accumulation fund rate .............................................................................................26
Monthly performance...................................................................... 27
Comparative share price performance as of 31 August 2009.................................................27
Valuation comparison ..................................................................... 28
Comparative valuations of listed real estate companies .........................................................28