chinese housing market sees turning point soon
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Chinese housing market sees turning point soon

Arab Today, arab today

Arab Today, arab today Chinese housing market sees turning point soon

Beijing - Xinhuanet

The continued tightening measures of the government and the poor autumn sales volume have forced Chinese property developers to drop housing prices nationwide, which indicates that the market is moving closer to a turning point. Official statistics shows that the housing inventory in China’s first-tier cities is increasing, which is a desired downward trend for private homebuyers. In September, 59 of a statistical pool of 70 major cities saw new home prices increase more slowly from a year earlier, compared with 40 cities in August, the NBS said in a report on its website. According to the Centaline Property Agency, a supply of 9,152 new homes in October has added Beijing's total housing supply to 118,000 units, a new high since June 2009. It would take 22 months to consume the inventory even if there were no new supply, said the agency. The gloomy sales in September and October will weigh heavily on developers, as they will have to pay back banks, cover construction expenses and pay for employee bonuses during the last two months of the year, said Chen Guoqiang, vice chairman of the China Real Estate Society. "The central government's decision to maintain the property policies is conducive to guiding market expectations and will accelerate the arrival of a drop in housing prices," Chen stressed, adding that embattled by rising debts and weak sales, developers will likely drop their prices even further to secure more sales.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese housing market sees turning point soon chinese housing market sees turning point soon

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese housing market sees turning point soon chinese housing market sees turning point soon

 



GMT 10:52 2017 Wednesday ,18 January

Clocks 'failed' onboard Europe's navigation satellites

GMT 23:15 2017 Sunday ,17 December

Mohamed bin Zayed receives President of Montenegro

GMT 11:54 2017 Sunday ,12 November

Nawaz Sharif holds meeting at Jati Umra

GMT 04:54 2017 Saturday ,14 October

Syrians should decide Assad's fate: UN envoy

GMT 00:13 2017 Thursday ,23 November

President expresses grief over martyrdom of Maj. Ishaq

GMT 10:11 2017 Wednesday ,18 October

Venezuela poll results a 'strong message' to US, allies

GMT 13:20 2017 Sunday ,19 February

Actor Bassam Ali rejects works violating ethics

GMT 13:06 2017 Wednesday ,22 February

Super Rugby has plenty to tackle in 2017

GMT 15:03 2017 Saturday ,11 March

Iraqi forces storm Old Mosul from 3 axis

GMT 15:55 2017 Tuesday ,25 July

Morocco’s coach underlines difficulty

GMT 10:49 2016 Saturday ,03 December

Australia's Maxwell fined for 'disrespectful' teammate

GMT 12:58 2017 Sunday ,27 August

Consumers warned against random abattoirs
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday