Driven by the surge in housing transactions in the last two months, Beijing's real estate investments also rose. A total of 2.86 million square meters of new-home floor space was started in the first two months, an 85.7 percent increase over the same period last year.
Sales of new homes in Beijing doubled to 1.68 million sq m in the first two months.
The latest ruling has sellers wanting out before it kicks in. The number of homes on the market rose 30% in Pudong New Area, a high-end waterfront district in Shanghai.
In the new home market, sales of mid- to low-end properties in the seven-day period ended Sunday rose to a 36-week high. Excluding subsidized housing, housing sales rose 20.7% from a week earlier to 312,000 square meters in Shanghai alone last week, according to Shanghai Deovolente Realty Co.
I do not think EJ does much if anything in Bejiing, but this does bode well for CTC, which is probably why it is rising today....along with all the other Chinese RE stocks. The only stock not faring well is EJ so far today.