Inside the Great Wall:Weekly sales down 1%wow,fourweek sales drop 39%yoy

Weekly sales down 1% wow, four-week sales drop 39% yoy.

    For the week of 24-30 July 2017, the 25 cities tracked by Soufun reported a totalsales volume of 2.84m sqm, down 0.9% wow; yoy decline was at 38.5%. For thelast four weeks, sales volume was down 11% 4w-4w/down 26% yoy to 12.1msqm. ASP in 24 cities was RMB16,496 psm, up 6.0% YTD. Four Tier-1 citiesreported total sales volume of 635k sqm, up 23% wow but down 45% yoy. YTDvolume amounted to 19.6m sqm, down 35% yoy. ASP in Tier-1 cities wasRMB33,150 psm, down 0.1% YTD. Please see page 3 for details. (Soufun,Deutsche Bank).

    Banks in Beijing slowdown on mortgage approval.

    Media reported that banks in Beijing are slowing down their approval time ongranting mortgages. Current banks are stricter on requesting documentsupport for mortgage approval. Moreover, property agents stated that approvaltime has been extended to three months in many cases. (CFI)Hong Kong top news.

    200+ small-flat units to be launched for sale.

    Developments targeting the small-flat market are set to be launched forpresale. The sales brochure of EDITION 178, Kwai Chung (which has 136 units)was released, with a price list reportedly being made available in the week.

    Meanwhile, NOVI, Mong Kok offered an additional 38 units, apart from the firstbatch of 98 units, which are said to have received 700 tickets (6xoversubscription). (HKET)