The volume of transactions is also expected to hit a new low, the annual first-hand and second-hand transactions only 45,000, significantly less than last year's more than 70,000.

This year's property market price and volume decline, can be described as "dismal".

As the market lacks good news, unless the government to the property market "reduce spicy", otherwise it is difficult to see property prices rebound in the short term.

The situation is expected to remain poor next year, general residential property prices will fall 5% to 10%, luxury property prices fell by up to 5%, the total number of first-hand and second-hand transactions will slightly rebound to 48,000 to 53,000 cases, of which 30% of first-hand transactions.

Because many buyers are still on the sidelines, turning to buy to rent, so the rental market remains stable, Knight Frank expects that next year in the general residential rents are still stable, but due to the customs clearance measures, luxury rents will still fall, up to 3%.

As for the revenue from land sales, since the government's land sales this year are more than expected, some of the sites will be postponed to next year. It is expected that the revenue from land sales next year will reach $50 billion to $70 billion, and the land premium will be around $35 billion to $40 billion.