July's real estate turnover high in major cities

As of July 25, the number of signed commercial housing amounted to 212,800 units in the country's major cities in July, an increase of 6.9 percent over the previous month according to data published by the Centaline China Property Research Center. The full month's sales volume may reach 280,000 units.

The sales volume growth rate in Beijing, Shanghai, Guangzhou and Shenzhen was up to six times more than the volumes in other second-tier cities, reported Securities Daily on Friday.

The Centaline China Property Research Center, has research and branches in 28 major mainland cities, publish real estate market research reports on a regular basis.

An industry insider said that the recent two consecutive interest rate cuts have obviously impacted on the property market.

Analysts said the recent interest rate cut did not trigger a continuous rise in the sales volume, as there is delay in trading information system and the effect of macrocontrol policies will show later.