Turning point of Chinese property market
Updated: 2014-05-15 13:55 (chinadaily.com.cn)|
China's property market has started to cool down. Since the start of 2014 both new and used home sales began declining and property price in many cities started to show sign of weakening. With the cooling down of China's property market looking inevitable, developers and home buyer have to cope with the stagnated market condition. |
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China's housing sector to enter 'autumn season': expert China's property market is entering an "autumn season" marked by a reasonable drop in house prices, an expert said Sunday. Since the beginning of this year, the country's formerly red-hot property market showed increasing signs of cooling down, igniting worries about a plunge in home prices this year. Read more>> Investors shunning property for funds Real estate has dropped from the top three investment choices among residents in Chongqing municipality for the first time in two years, while Internet financing is fast becoming a popular item in investors' portfolios. Read more>> |
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Dropping sales |
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Housing sales fall over May Day break Property sales fell by more than 30 percent in major cities during the May Day holiday compared with the same period last year, according to property agency Centaline Group. Read more>> Property price growth slows further in March The growth in property prices in China's major cities slowed further in March, with fewer cities posting a month-on-month increase, the National Bureau of Statistics said on Friday. Read more>> |
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April sales adding fuel to fears of property bubble The value of homes sold declined to 418 billion yuan ($67 billion) from 509 billion yuan in March, according to National Statistics Bureau data for the first four months of the year. The value of total sales from January to April fell 9.9 percent to 1.53 trillion yuan from a year earlier, the data showed. Read more>> China's home price growth decelerates Home prices in major Chinese cities grew at a slower pace in March, with fewer cities reporting month-on-month price gains, the National Bureau of Statistics announced on Friday. Read more>> |
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Used home sales at a 6-year low, inventories up A total of 8,943 units were sold in March, according to Centaline. That accounts for just one-fifth of the 43,780 units sold the previous March. Prices went down, too, dropping 0.6 percent from February to 31,400 yuan ($5,055) per square meter in March. Read more>> Beijing's March second-hand home sales slumps Some 8,943 second-hand homes were sold in Beijing last month, the lowest number for any March since 2009, according to new data from property agent Centaline. Read more>> |
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Empty cities |
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Nobody's home in 10.2m apartments, survey finds China has about 10.2 million units of empty housing, and that number could rise by 3 to 4 million a year, according to Credit Lyonnais Securities Asia Ltd. If this estimate is accurate, it means that China's vacancy rate was 15 percent last year, 5 percentage points higher than the average in the United States. Vacancy rates varied among Chinese cities, CLSA said. Read more>> |
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Economic impact |
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Property bubble will not wreck China's economy
Economists from China's leading think tanks have dismissed predictions that a possible property meltdown would trigger a crisis or even a crash in the world's second largest economy. Read more>> Property sector's slump takes realty jobs with it Beijing Weiye Real Estate laid off five sales agents on Monday at one of its branches in Beijing's Chaoyang district, an employee, who refused to be named, told China Daily. The recent pink slips are part of a bigger layoff plan contemplated after sales slumped over the past two months to just one-third of the levels seen in 2012. Read more>> |
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Overseas' opportunities |
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Overseas properties gearing up for Chinese investors Overseas property developers and brokers are prepared to sell more homes to Chinese investors, who believe the offshore residential property market offers higher returns and less bubble risks. Read more>> Australia among top picks for property investors Australia has become one of the most popular destinations for Chinese property investors, with nearly A$6 billion ($5.42 billion) invested by Chinese buyers in the local real estate market in the last financial year, local media reported on Monday. Read more>> |
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Chinese second-largest buyers of US real estate Individual Chinese investors and buyers for all kinds of reasons, including education, emigration and investment, are contributing to a very positive environment for the real estate market in the US, said Chris Marlin, president of Lennar International. Read more>> Developers discover room for growth overseas As more Chinese look for ways to invest abroad, the country's real estate companies are following the money, reports Hu Yuanyuan Amid continued talk of a bursting domestic real estate bubble, Chinese property developers' overseas expansion has picked up steam this year. Read more>> |
