Growth in in House price continues to Slow

Discussion in 'China property' started by albert, Aug 29, 2006.

  1. albert

    albert New Member

    Growth in China's housing prices continued to slow in the third quarter, due to the government's macro-control measures.
    Spokesman Zheng Jingping of the National Bureau of Statistics said yesterday that average housing prices rose 8.8 per cent year-on-year during the first three quarters of this year.
    But prices rose 10.1 per cent in the first half and 12.5 per cent in the first quarter of the year.
    Growth in real estate investment also dropped to 22.2 per cent in the first three quarters, from 23.5 per cent in the first half.
    "The stable price drop combined with the gradual decline in housing investments, is what the government wants to result from its macro-control," Zheng said.
    With an aim to curb speculation and gain control over the red-hot housing sector, the government adopted eight measures, such as introducing taxation policies and stricter control over land supply.
    Thank you
  2. nelson

    nelson New Member

    Hi Albert
    China's housing price growth continued to slow in October, traditionally one of the hottest sales months of the year, as a result of the government's regulatory measures.
    New residential buildings are erected along Maoming Road in Shanghai, which is on the list of five cities that recorded the biggest drop in housing prices last month. [Shanghai Daily]
    Nationwide, residential property prices rose 0.5 percent last month, compared with a 0.6 percent gain in September and a 0.7 percent increase in August, according to a survey by the national development and reform commission and national bureau of statistics.
    Shanghai, which led the price drop in September, remained on the list of the five cities that recorded the biggest drop last month.
    Prices of newly launched projects and secondhand houses in Shanghai both dropped 1.2 percent in October compared to the previous month, according to the survey. The decline rate was the same as in September.
    Thank you

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