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1、PropertyTimesBeijingSecondquarter20052005AquarterlyoverviewofBeijingresidentialmarketContentsMarketReview1Supply1RentalandVacancy2Sales3MarketOutlook4MarketReviewOverallperformanceoftheluxuryresidentialmarketwassteady.Averagerentalwassimilartothatofl
2、astquarterbutthevacancyratehasdropped.Theservicedapartmentmarketremainedactivewithslightrentalincreasesandlowervacancies.Theleasingapartmentmarketsawasurgeinnewsupplyleadingtoincreasedvacancies.However,rentsremainedstableduetofirmdemand.Asforthevilla
3、market,newprojectsweregraduallyabsorbedbythemarketbringingdownthevacancyrate.InQ22005,governmentissuedaseriesofmeasurestofurthercontainrealestatepriceincreases.InApril,sevenministriesofthecentralgovernmentjointlyannouncedasetof"Suggestionsonthestabil
4、izationofresidentialprices"withthemainpointsasfollows:(1)Salestaxeswillbeleviedonthefullsellingpriceforpropertieswhosetitlesaretransferredwithintwoyearsofbeingpurchased;(2)Aconcreteidentificationofpeoplewhoareeligibleforthetaxpreferentialpolicyonmass
5、residentialhousing.1InadditiontothissetofmeasuresinApril,governmenthasalsoan-nouncedthenotice"ReinforcingregulationandmanagementontaxcollectionbyStateAdministrationofTaxation,MinistryofFinanceandMinistryofConstruction"inMaythatgivesclearinstructionon
6、taxesrelatedtorealestate.InJune,BeijingConstructionCommitteereleasedthe"NoticeonpolicybyGeneralOfficeoftheStateCouncilforstabilizingrealestatepricesfromBeijingmunicipalgovernment"thatforbidsownershiptransferforuncompletedprojects.SupplyIntheserviceda
7、partmentmarket,bothbuildingsofMarriottExecutiveApartmentsPalmSprings-Beijingenteredthemarketthisquarter.NewsupplyintheleasingapartmentmarketthisquarterincludedFortunePlazaandGoldfieldInternationalGarden.Villasupplywaslimitedwithonlyafewunitsfromthene
8、wlycompetedEurovillagephaseIIIenteringthemarketthisquarter.Onthesalesfront,manyluxuryresidentialprojectsintroducedtheirlatterphases.ThisincludedCentralParkPhaseIII,LaneBridgeVillaPhaseIIIandVanlandMansionPhaseII.Table1NewLeasingSupplyinQ2,2005Distric