Young purchasers play key role in property market

Around one third of homebuyers in 2013 were in the 19 to 29 age bracket, a report from real estate agency Century 21st said.

The ratio, according to the agency, rose from 19.9 percent in 2011 to 31.9 percent in 2013.

"Strong demand from that group of people, together with a stable credit environment in 2013, resulted in a bullish property market last year," said Kong Hailong, general manager of Century 21st Beijing.

Home sales, in terms of area, rose 15.3 percent in November, compared to 11.7 percent in October. In value terms, home sales increased by 20.9 percent in November. Total floor space jumped 54.4 percent in November, compared to a fall of 8 percent in October, according to the National Bureau of Statistics.