110 luxury homes for sale in October 13 months low

In the first ten months of 2018, the number of luxury homes (including first-hand and second-hand) contracts worth more than 20 million yuan was recorded in 3,875 cases, with a total value of 170.538 billion yuan. The number and amount just exceeded the total for the whole year of last year, up by 0.1% and 1.6% respectively from 3873 and 167.86 billion in 2017. It was the 23-year high since 1996.

Huang Liangsheng, senior co-director of the Central China Real Estate Research Department, pointed out that in October, the number of luxury homes (including first-hand and second-hand) sales contracts worth more than 20 million yuan was recorded in 210 cases, with a total value of 10.482 billion yuan, compared with 292 cases in September and 12.764 billion yuan. They fell by 28.1% and 17.9% respectively. The number is the 13-month low since September 190, 2017, and the amount is the 12-month low since the October 2017 level of 9.741 billion. Reflecting the impact of the property market adjustment and the volatility of the global financial market, the buyer’s intention to enter the market is cautious and the overall luxury market is slowing down.