2015中国房产交易额下降
Industry experts say China's land market transactions decreased last year as demand softened.
房地产行业专家表示，因需求疲软，去年中国房产交易额减少。
The latest data shows that transactions across 300 large and medium-sized cities nationwide numbered 24-thousand, down by 20 percent year-on-year.
Meanwhile, transaction volume reached 2 trillion yuan, down 10 percent compared with 2014, but still at a high level due to high prices.
Zhu Daolin, professor of China Agricultural University, says the market's performance is in-line with expectations.
"On the one hand, the economic growth slowed down under the new normal. On the other hand, we have experienced a rapid development in the real estate market over the past ten years and now oversupply happened in different cities after most strong demands were satisfied. So, for real estate developers, reducing stock became important."
Despite a slowed market, first-tier cities including Beijing, Shanghai and Guangzhou still recorded good momentum.