How much pressure does the property market go to inventory: the growth rate drops significantly

Real estate inventory levels are still high, but the growth rate has dropped significantly, and the inventory of commercial properties is more severe than that of residential buildings.
The Institute of Urban Development and Environment of the Chinese Academy of Social Sciences and the Social Science Literature Publishing House published the "Real Estate Blue Book: China Real Estate Development Report (2016)".
In 2015, the sales area of ​​commercial housing in the country was 719 million square meters, an increase of 15.6% over 2014. The growth rate was significantly lower than the 26.1% in 2014.
Residential inventories increased by 11.2%, down 14.4 percentage points, and the year-on-year growth of commercial business premises for sale decreased by only 1.4 percentage points.
In 2015, the new construction area of ​​the national housing was 154.454 million square meters, down 14.0% from 2014. The newly started construction area of ​​all types of properties has declined, and the declines are all above 10%.
In 2015, the land purchase area decreased by 31.7% compared with 2014; the land transaction price decreased by 23.9% compared with 2014.
According to the Blue Book, there are still structural imbalances in the real estate market, including serious urban differentiation. Among them, first-tier cities and a small number of second-tier cities have rapidly declined in inventory, while most second- and third-tier cities need to vigorously destock.

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