China Prop Weekly:Tier-2/3/4cities remain strong despite tightening in T-1cities

　　Weekly sales up 5.5%, 7.5% and 69.1% YoY

　　During the week of 25 April to 1 May 2016, the sales volume in 35 major cities was recorded at 7.507msqm, up 5.5% WoW, marking the third weekly increase in April. Weekly sales were up 7.5% MoM (for 35 cities) and 69.1% YoY (for 34 cities). The sales volume in April was down 5.4% MoM (35 cities) and up 62.0% YoY (34 cities). For the YTD, sales in 32 cities rose 51% YoY. The ASP for last week in 32 cities was up 16% YoY to RMB13,674psqm.

　　Sales volume in Tier-1 cities up 4.1% WoW

　　The sales volume in Tier-1 cities increased 4.1% WoW to 1,071ksqm during the week. The sales volume in Tier-1 cities was up 9.5% MoM and 19.0% YoY. For April the total sales volume in Tier-1 cities was -19.6% MoM & +2.3% YoY, to 4.1msqm. The YTD sales volume in Tier-1 cities was up 18% YoY. The ASP in Tier-1 cities last week was RMB31,105psqm, up 41% YoY.

　　Sales volume in Tier-2 cities up 8.0% WoW

　　During the week, the sales volume in Tier-2 cities was up 8.0% WoW (15 cities) to 4.8msqm. Tier-2 cities’ sales volume was up 7% MoM and up 101% YoY (15 cities). For April the sales volume in Tier-2 cities was down 1% MoM (15 cities) and up 93% YoY (15 cities) to 18.7msqm. The YTD sales volume in Tier-2 cities was up 68% YoY. The ASP in Tier-2 cities last week was RMB13,034psqm, up 19% YoY.

　　Sales volume in Tier-3 cities down 0.3% WoW

　　For Tier-3 cities the sales volume was down 0.3% WoW (16 cities) to 1,638ksqm. The sales volume in Tier-3 cities was up 7% MoM (16 cities) and up 42% YoY (15 cities). For April the sales volume in the 16 Tier-3 cities was down 7% MoM and up 48% YoY to 6.6msqm. The YTD sales volume in 14 Tier-3 cities was up 48% YoY. The ASP in Tier-3 cities last week was RMB9,049psqm, which was down 4% YoY.