Home / China / News Tools: Save | Print | E-mail | Most Read | Comment
Chinese urban home buyers wait for property market to stabilize
Adjust font size:

Sun Hua, an office worker who's spent two years in Beijing, has been looking at second-hand apartments for more than two months, along with her fiance.

"Prices aren't low. But I'm afraid that if we don't decide to buy soon, prices will spike," Sun said, as she described her struggle to make ends meet in her daily life while saving for a long-awaited home.

She plans to buy a one- or two-bedroom apartment on a mortagage that will run for more than 20 years. Borrowing some money from her parents, She couple will also use their hard-earned salaries to cover the minimum 20 percent down payment.

Sun is one of millions of potential home buyers in China who have been worrying about rising urban apartment prices since the Spring Festival in late January.

Chinese home prices began to pick up from one-year lows starting in February and home buying volumes reached a record high in recent months. Evidently, some buyers believed that prices had hit bottom at the start of the year. The situation has given Sun and other home buyers reason for concern.

Figures from the National Bureau of Statistics (NBS) showed that prices of new and existing homes in 70 large and mid-sized Chinese cities including Beijing, Shanghai and others fell 0.6 percent year on year in May, but prices still edged up 0.6 percent from April.

This was the third consecutive month that home prices had climbed month on month.

Second-hand home prices showed a similar trend, analysts said. Although no nationwide data were available, figures provided by Beijing-based 5i5j Real Estate Service Co. showed that second-hand home prices rose 1.53 percent month on month to 12,712 yuan (1,859 U.S. dollars) per square meter in Beijing in May.

Signs of life

Chen Sheng, vice president of the China Index Academy (CIA), a private-sector research institute that specializes in real estate, told Xinhua that the signs of life in the residential property market largely reflected government stimulus policies for the sector and consumers' inflation expectations following a loan spike early this year.

China's new yuan-denominated loans reached 664.5 billion yuan in May, bringing new loans in the first five months to 5.84 trillion yuan, far exceeding the full-year target of 5 trillion yuan. Loans to consumers topped 187.6 billion yuan last month, the People's Bank of China (PBOC), the central, said last Friday.

Of the total 187.6 billion yuan of consumer bank credit in May, 100.8 billion yuan was aimed at long-term housing loans, accounting for 53.73 percent of the total. The ratio was more than 10 percentage points lower than in April, showing more people were cautious about buying homes on installment, analysts said.

China announced at the end of May that, for the first time in 13 years, the minimum capital requirements for developers to start a new commercial property or an affordable housing project had been lowered from 35 percent of the total project cost to 20 percent, a move to reduce developers' investment threshold.

Policymakers in the world's third-largest economy also reduced the minimum down payment ratio for home loans from 30 percent to 20 percent for first-time buyers starting at the end of last year, an apparent move to boost the market.

Qin Rui, a senior analyst with 5i5j, told Xinhua that some home buyers were "following the crowd" when buying apartments in February, March and April this year as they did in the property buying spree of 2007 when the market was strong.

"However, some cautious home buyers chose to wait and see for a while after observing what happened last month in Beijing," Qin added.

Transactions rise, then wane

Data from www.bjfdc.gov.cn, a real estate trading information platform run by the Beijing Municipal Commission of Housing and Urban-Rural Development, revealed that first- and second-hand home trading volume fell 13.94 percent and 8.27 percent, respectively, in May from April, showing dampened enthusiasm and a wait-and-see attitude among potential buyers.

That reflects a change from the first quarter, when both transactions and prices rose.

Prices rose faster than volume in the first quarter, reflecting pent-up consumer demand and developers' prices hikes to increase their profits, analysts said.

NBS data showed that total national first-hand home sales by area rose 8.2 percent to 113.09 million square meters in the first quarter, while developers' sales revenue jumped 23.1 percent to 505.9 billion yuan.

Transactions remained brisk in April, but growth wasn't as fast as in February and March in some cities. No national-level figure was available, but first-hand home sales volume rose 8.7 percent in Tianjin in April month on month, 43.93 percent in Wuhan month on month, and 12.4 percent month on month in Shenzhen, CIA figures revealed.

Transactions growth slowed further in May, as both owner-occupiers and investors took a wait-and-see attitude.

First-hand home sales by area edged up only 3 percent in May from April on average in eight urban areas -- Beijing, Shanghai, Guangzhou, Shenzhen, Tianjin, Chongqing, Chengdu and Hangzhou -- according to Centaline China Property Research.

The average first-hand home price of projects from the 10 biggest property firms including China Vanke, Poly Real Estate and others in these eight cities rose 6 percent in May from April to 10,006 yuan per sq m, according to Centaline.

1   2    


Tools: Save | Print | E-mail | Most Read Bookmark and Share
Comment
Pet Name
Anonymous
China Archives
Related >>
主站蜘蛛池模板: 国产精品手机视频一区二区| 成年人的免费视频| 亚洲欧美日韩另类在线专区| 精品国内片67194| 国产三级国产精品| 中文日韩字幕一区在线观看| 最近的2019中文字幕hd| 亚洲最大视频网| 热久久中文字幕| 免费无遮挡无码视频网站| 黄色片在线播放| 国产精品理论电影| 99re热久久资源最新获取| 奇米影视7777久久精品| 一级毛片在线免费播放| 我把小yi子cao了小说| 久久久亚洲欧洲日产国码二区 | 成人毛片免费视频播放| 久久久久亚洲精品美女| 日韩a无v码在线播放| 久久青青草原综合伊人| 欧美乱人伦中文在线观看不卡| 亚洲欧美另类中文字幕| 毛片a级毛片免费播放下载| 人妻少妇精品视频专区 | 国产美女精品三级在线观看| 99国产欧美久久久精品蜜芽| 日本暴力喉深到呕吐hd| 五月天色婷婷丁香| 果冻传媒mv在线| 亚洲sss综合天堂久久久| 欧美三级电影在线| 亚洲国产成人久久| 欧美性色欧美a在线播放| 亚洲最大激情网| 欧美日韩在线视频一区| 亚洲欧美日韩三级| 欧美综合成人网| 亚洲欧美日韩中文字幕久久| 欧美日韩在线视频一区| 亚洲情综合五月天|