High-end housing sales rebound

The sales of high-end property saw a strong rebound in the first eight months of the year, data from Centaline Group's Beijing branch showed on Wednesday.

According to Centaline, a total of 3,277 units of high-end apartments — which refer to apartments with a unit price higher than 40,000 yuan ($6,300) per sq m — were sold during the first eight months, compared with 2,301 units sold during 2011.

In addition to the increase in transaction volumes, prices also picked up. The average price of the units, according to Centaline, stood at 50,400 yuan per sq m, up 4.3 percent compared with the same period of last year.

"The price may go up further in the coming two months, along with the recovery of the market," said Zhang Dawei, head of the research department at Centaline.