Weekly sales up 11.9% WoW, down 15.5% MoM, and up 13.9% YoY

　　During the week of 23-29 May 2016, the sales volume in 33 major cities wasrecorded at 6.564msqm, which was up 11.9% WoW. Weekly sales (for 34cities) were down 15.5% MoM and up 13.9% (for 34 cities) YoY. Despiteweekly sales seeing double-digit growth, sales momentum has been weak forthe month. Moreover, the sales volume was up 13.9% YoY, which was noimprovement when compared to the previous week. The sales volume in MayMTD was down 11.7% MoM (31 cities) and up 19.5% YoY (30 cities). For theYTD, sales in 29 cities rose 39% YoY. The ASP for the last week in 29 citieswas up 19% YoY to RMB14,215psqm.

　　Sales volume in Tier-1 cities up 15.8% WoW

　　The sales volume in Tier-1 cities increased 15.8% WoW to 1.127msqm duringthe week. The sales volume in Tier-1 cities was up 5.2% MoM and down14.0% YoY. For May MTD, the Tier-1 cities’ total sales volume was +2.1%MoM and -11.1% YoY to 4.02msqm. The Tier-1 cities’ YTD sales volume wasup 11% YoY. ASP in Tier-1 cities last week was RMB31,994psqm, up 41% YoY.

　　Sales volume in Tier-2 cities up 12.1% WoW

　　During the week, the sales volume in Tier-2 cities was up 12.1% WoW (15cities) to 4.1msqm. The Tier-2 cities sales volume was down 22% MoM and up25% YoY (15 cities). For May MTD, the sales volume in Tier-2 cities was down16% MoM (15 cities) and up 32% YoY (15 cities) to 15.9msqm. The YTD salesvolume in Tier-2 cities was up 48% YoY. The ASP in Tier-2 cities last week wasRMB12,103psqm, which was up 16% YoY.

　　Sales volume in Tier-3 cities up 8.1% WoW

　　For Tier-3 cities, the sales volume was up 8.1% WoW (14 cities) to1.334msqm. The sales volume in Tier-3 cities was down 9% MoM (15 cities)and up 15% YoY (15 cities). For May MTD, the sales volume in 12 Tier-3 citieswas down 6% MoM to 4.9msqm and up 17% YoY (11 cities) to 4.7msqm. TheYTD sales volume in 11 Tier-3 cities was up 49% YoY. The ASP in Tier-3 citieslast week was RMB9,494psqm, which was up 4.4% YoY.

　　Sales volumes in Tier-2 and Tier-3 cities by region

　　1) Yangtze River Delta – Tier-2 cities: Weekly: 0.9msqm (+9% WoW); MayMTD: 3.4msqm (-14% MoM, +24% YoY); YTD: 18.3msqm (+75% YoY). Tier-3cities: Weekly: 575ksqm (+2% WoW); May MTD: 2.5msqm (-1% MoM, +38%YoY); YTD: 10.4msqm (+40% YoY). 2) Guangdong and Fujian Province region –Tier-2 cities: Weekly: 128ksqm (-19% WoW); May MTD: 0.6msqm (-25% MoM,+23% YoY); YTD: 2.9msqm (+43% YoY). Tier-3 cities: Weekly: 390ksqm (+11%WoW); May MTD: 1.3msqm (-18% MoM, -10% YoY); YTD: 8.5msqm (+65%YoY). 3) Western region – Tier-2 cities: Weekly: 894ksqm (+13% WoW); MayMTD: 3.3msqm (-10% MoM, +2% YoY); YTD: 16.0msqm (-1% YoY). 4) Central– Tier-2 cities: Weekly: 751ksqm (+12% WoW); May MTD: 3.2msqm (-18%MoM, +50% YoY); YTD: 15.7msqm (+64% YoY). Tier-3 cities: Weekly: 68ksqm(+26% WoW); May MTD: 262ksqm (-0.3% MoM, +44% YoY). YTD: 1.2sqm(+39% YoY). 5) North-eastern region – Tier-2 cities: Weekly: 1.5msqm (+18%WoW); May MTD: 5.4msqm (-18% MoM, +56% YoY); YTD: 17.5msqm (+85%YoY). Tier-3 cities: Weekly: 117ksqm (+9% WoW); May MTD: 436ksqm (-5%MoM, -2% YoY). YTD: 1.2msqm (+20% YoY).