By intern reporter Ci Bing

(Caijing.com.cn) High prices dampened property sales in first-tier cities in September, despite the month being a traditionally busy season, analysts said.

In Beijing, apartment sales in the first 20 days of the month fell 10.8 percent from the same period in August to 6,541 units, while sales by area fell 4.8 percent to 759,000 square meters, the official Beijing Real Estate Transaction Management Web said.

In Shanghai, sales in the second week of September fell 10 percent week-on-week, while supply rose 84 percent, according to property consultants Centaline China.

In Guangzhou, sales dropped 30 percent in the second week of September, while supply grew by 73 percent, Centaline said.

The consultancy said in a research report published on Sept. 23 that soaring prices depressed demand, most of which was met by strong sales in the first eight months.

The lukewarm sales performance in top cities and increased supply in September will add to the inventory on the market, the report said.

Gao Shan, an analyst at Beijing Yahao Real Estate Services, told Caijing on Sept. 23 that developers will introduce more properties to the market in September and October in a bid to tap into the usually busy buying season.

Sales in October will be a barometer for the market, he said.

Full article in Chinese: http://www.caijing.com.cn/2009-09-23/110258792.html