China's largest banks have not stopped making new loans to property developers but are keeping such loans at low levels, executives from some of the lenders said yesterday to refute a report in a state-run newspaper. Chinese banks have been facing additional scrutiny over loans to the property sector because existing government measures have had a limited impact on cooling the overheated domestic...
China Property Market
Beijing's latest move on Sunday to charge higher mortgage rates for first time home buyers may not be enough to curb the country's huge appetite for real estate investments, an analyst told CNBC on Monday. "Even with the increase in mortgage (rates), those rising costs are not even keeping pace with the rise in inflation in China, which means the real interest rate that households are looking at — the...
Most of the capital's luxury real estate projects are encountering poor sales even in the back-to-boom market, industry insiders revealed. Nearly 70 per cent of the property for sale in the 30 most expensive developments remain on the market, where some have languished for more than four years, according to Beijing Times. Figures from the Beijing real estate trading management website, an official portal...
Beijing's efforts to deter property speculators look to be paying off China's property prices rose at the slowest pace in six months in July as the government clamped down on speculation to prevent asset bubbles and keep housing affordable. Prices in 70 major cities climbed 10.3 per cent from a year earlier, the Statistic Bureau's newspaper, China Information News, reported this morning. That was less...
While local residents complain about escalating property prices from Guangzhou to Beijing, the comparative value for money still tempts foreign investors, especially those who have lived and worked in Chinese cities for a long time. With China's growing importance as a major international financial power coupled with the property boom post-Olympics and post-World Expo, more and more foreign buyers are...
Govt may fine-tune property policy as economy softens in the coming months Investors who bet that China will declare an early end to its property tightening campaign are doing so at their own peril. While the government is likely to fine-tune property policy as the economy softens in the coming months, it is not about to reverse tightening measures that it believes are critical to safeguarding China's...
DURING the last decade, China's housing bubble has been a serious concern. The average house price in big cities like Shanghai and Beijing is now over 25,000 yuan (S$5,100) per square metre (by comparison, the resale price of HDB flats is around 15,000 yuan per square metre). Ten years ago, it was only around 5,000 yuan. In what was an unexpected but nationwide trend, there was a quick recovery of the...
AS soon as Jamie Dimon, CEO and chairman of JPMorgan Chase, sat next to me at Beijing's Grand Hyatt Hotel after delivering his keynote address at an investment conference, he popped an abrupt question to me: 'So, are you worried about the Chinese government's recent measures to manage the property bubble?' Somewhat to his surprise, I replied: 'I would be worried if the government doesn't do anything about...
China's property market is gearing up for change, after the State Council approved a gradual reform of the country's real estate tax system. Analysts are expecting the changes to include a new tax on residential property. The reform is part of efforts to cool the red hot property sector on the Chinese mainland. Property prices in China have been surging to record highs. Data showed that real estate...