Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Industry

China's sold floor space ends 21-month rise amid curbs

December 05, 2016


Abstract : China's property market continued to cool down as total floor space of sold apartments in major Chinese cities in November experienced the first year-on-year decline in 21 months.

BEIJING, Dec. 4 (Xinhua) -- China's property market continued to cool down as total floor space of sold apartments in major Chinese cities in November experienced the first year-on-year decline in 21 months.

In November, some 19.9 million square meters were sold in 30 major cities, 4.2 percent less than the same period last year, according to statistics compiled by E-house China R&D Institute.

On a monthly basis, the decline is 10.5 percent, with Beijing and Shanghai dropping 7.9 percent and 24.6 percent, respectively.

Second- and third-tier cities also posted month-on-month declines, with eastern cities of Hangzhou and Suzhou leading the retreat.

The decline came after Chinese authorities introduced a slew of measures in October to rein in house prices and contain speculative house purchases, including purchase limits and tougher mortgage limits.

New restrictions were imposed this month, with Shanghai lifting minimum down payment requirements and raising interest rates by 10 percent for second-time borrowers from the government's Housing Provident Fund.

The year-on-year decline is expected to continue in December with less speculative home buyers, said Yan Yuejin, senior researcher with E-house China R&D Institute.

It proves the effectiveness of the cooling policies and means narrowed home price rises in a more stabilized market, Yan said.

Scan the QR code and push it to your mobile phone

Keyword: China-Property

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial