Housing prices in 100 major cities in China dropped on a monthly basis for a third consecutive month in November and posted their biggest month-on-month decline this year, according to the privately compiled China Real Estate Index System (CREIS). The decline provides further evidence that the government's two-year tightening campaign is cooling the property market amid signals it is now trying to slow...
China Property Market
Measures introduced to control China's real estate market are at a "critical stage" and the government should keep the curbs, Chinese Vice-Premier Li Keqiang said, Xinhua reported yesterday just hours before the Organization for Economic Cooperation and Development (OECD) warned that property risks were "overshadowing" the economic outlook of the world's second-largest economy. Mr Li, who is in line to...
China may ease property controls in the second quarter of next year due to concerns a steep drop in prices will push economic growth below 9 per cent - an unspoken but key target for Beijing, a prominent Chinese university said in a report published yesterday. Property prices, transactions and investments will fall in the first quarter due to the tightening measures, a Renmin University of China report...
The president and chief executive of CapitaLand, South-east Asia's largest listed developer, said yesterday that demand for residential properties in China remains strong, although prices might drop slightly in certain regions. Mr Liew Mun Leong also said the group intends to expand its shopping mall portfolio in China to capitalise on strong consumer demand. China's efforts to cool its property market...
The average home price in China's 100 key cities fell 0.23 per cent in October from a month earlier, following Beijing's tightening measures to curb the exuberant housing market, a private survey showed on Tuesday. The China Real Estate Index System (CREIS), affiliated with Soufun, the country's largest online real estate firm, said the average home price dropped to 8,856 yuan (S$1,770) per square metre...
China's new-home prices rose last month in all 70 cities monitored by policymakers, challenging the government's efforts this year to control property prices. Prices in Beijing rose by 1.9 per cent from a year ago, while those in Shanghai, the nation's financial centre, increased by 2.8 per cent, the statistics bureau said on its website yesterday. China's measures to control its property market are at a...
China's home price rose at its slowest rate this year as tightening measures led to a decline in transactions, the Dow Jones news agency reported Thursday. Housing prices edged up slightly by 0.07 per cent in August from July, compared with July's 0.21 per cent on-month increase, according to the China Real Estate Index System. However, from a year earlier, the average price for new properties was up 6.9...
The International Monetary Fund (IMF) remains concerned with the potential for a property price bubble in China even though the country's elevated inflation rate may peak within the next month or two. While efforts by China to cool the real estate sector have reduced transaction volumes and property price increases, home prices in some larger cities still look "bubbly", Mr Nigel Chalk, IMF mission chief...
New home prices rose in 67 Chinese cities last month, with growth in Beijing and Shanghai accelerating for the first time since the government stepped up efforts this year to curb growth. In Beijing, new home prices rose 2.2 per cent last month from a year earlier, compared with 2.1 per cent in May, while in Shanghai they climbed 2.2 per cent, compared with 1.4 per cent growth the previous month, the...
Standard & Poor's (S&P) ratings agency lowered its outlook on China's red-hot property market to negative from stable, citing increasingly challenging credit conditions due to regulatory tightening and leverage concerns. China's property prices are expected to fall by 10 per cent over the next 12 months, with a 20-30 per cent dip less likely, S&P said. It also noted that neighbouring Hong...