One-handed luxury home sales in the first quarter Mainland visitors only 23%

In the first quarter of this year, the proportion of purchases of first-hand luxury home buyers was only 23.2%, which was a new low in 8 quarters. Central Plains pointed out that local capital flows into the luxury residential market, pushing down the proportion of mainland buyers.

The Central Plains Report pointed out that in the first quarter of first-hand luxury transactions, the number of mainland buyers and their respective percentages recorded 22.5% and 23.2%, respectively, down 10.5% and 6.8 percentage points quarter-to-quarter, which was the lowest level since the first quarter of 2016.

The luxury residential transaction continued to flourish. Huang Liangsheng, a senior joint director of the Central China Research Department, said that many local buyers have recently purchased luxury homes, and the proportion of mainland buyers has decreased.