Nationwide drop in property transaction volume; developers remain untroubled in the short term

The warming trend of local real estate market transactions came to a sudden stop under the new round of regulation, and transaction volume dropped significantly. Beijing's commercial housing transaction volume fell by more than 30%, and prices overall dropped 6.6%. Although in some cities like Shanghai, housing prices have not yet experienced a significant downward adjustment, many insiders in the industry believe that under the influence of compounded policy effects, the possibility of a price correction will increase during a future period of time, but in the short term developers will still feel no pressure.