Property market at turning point
Editor: 管理员 Date:2014-07-21 Hit:2817
%3CP%20align%3Dcenter%3E%3CIMG%20border%3D0%20src%3D%22/new_maoyi_en/cn/admin/news/NewsFile/2514/2014721103649733.jpeg%22%20width%3D500%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20cooling%20real%20estate%20sector%20will%20be%20the%20biggest%20%22uncertain%20factor%22%20in%20China%27s%20slowing%20economy%20this%20and%20next%20year%2C%20a%20top%20official%20at%20a%20think%20tank%20under%20the%20country%27s%20cabinet%20said%20over%20the%20weekend.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELiu%20Shijin%2C%20deputy%20director%20of%20the%20Development%20Research%20Center%20of%20the%20State%20Council%2C%20said%20on%20Saturday%20that%20China%27s%20property%20market%20is%20going%20through%20a%20%22historical%20turning%20point%2C%22%20and%20the%20demand%20for%20homes%20has%20peaked.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20growth%20of%20investments%20in%20the%20real%20estate%20sector%20will%20most%20likely%20be%20under%205%20percent%20in%20the%20next%20few%20years%2C%20Liu%20noted.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20property%20market%20embarked%20on%20a%20road%20of%20correction%20earlier%20this%20year%2C%20with%20the%20growth%20of%20home%20prices%20and%20sales%20starting%20to%20decline.%20The%20cooling%20home%20market%20added%20pressure%20to%20the%20country%27s%20slowing%20economy%2C%20which%20grew%20by%207.4%20percent%20year-on-year%20in%20the%20first%20half%20of%202014.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ENew%20home%20prices%20fell%20in%2055%20of%2070%20major%20Chinese%20cities%20in%20June%20month-on-month%2C%20the%20broadest%20drop%20since%20January%202011%2C%20the%20National%20Bureau%20of%20Statistics%20%28NBS%29%20reported%20on%20Friday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EPrices%20in%20Shanghai%20dropped%20by%200.7%20percent%20in%20June%20compared%20to%20May%2C%20and%20Guangzhou%2C%20capital%20of%20South%20China%27s%20Guangdong%20Province%2C%20logged%20a%20price%20fall%20of%200.6%20percent%20during%20the%20month%2C%20though%20prices%20in%20Beijing%20inched%20up%20by%200.1%20percent.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22According%20to%20our%20research%20results%2C%20the%20current%20turning%20point%20is%20not%20a%20seasonal%20one.%20It%20will%20have%20a%20long-term%20impact%2C%22%20Liu%20was%20quoted%20as%20saying%20at%20a%20conference%20in%20Beijing%20by%20China%20Business%20News%20on%20Saturday.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ELi%20Zhanjun%2C%20an%20analyst%20at%20Shanghai-based%20E-house%20China%20Research%20and%20Development%20Institute%2C%20told%20the%20Global%20Times%20on%20Sunday%20that%20Liu%20was%20%22too%20pessimistic%22%20and%20%22there%27s%20no%20turning%20point%20of%20any%20kind.%22%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20drop%20in%20home%20prices%20and%20sales%20is%20a%20result%20of%20the%20slowing%20economy%2C%20which%20has%20affected%20the%20performance%20of%20almost%20every%20sector%2C%22%20Li%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EMore%20than%204.2%20trillion%20yuan%20%28%24677.24%20billion%29%20was%20invested%20in%20the%20real%20estate%20sector%20in%20the%20first%20half%20of%202014%2C%20the%20NBS%20reported%20on%20Wednesday%2C%20up%20by%2014.1%20percent%20from%20the%20same%20period%20of%202013.%20Some%202.87%20trillion%20yuan%20was%20poured%20into%20the%20home%20market%2C%20up%2013.7%20percent%20year-on-year%2C%20the%20NBS%20said.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIf%20China%20could%20achieve%20a%20GDP%20growth%20of%207.4%20percent%20to%207.5%20percent%2C%20the%20annual%20increase%20in%20real%20estate%20investments%20would%20be%20above%2010%20percent%20this%20year%2C%20Li%20said.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EIt%20would%20be%20normal%20if%20China%27s%20home%20prices%20drop%20by%2010%20percent%20to%2015%20percent%20in%20the%20next%20few%20years%2C%20said%20Gong%20%26shy%3BFangxiong%2C%20committee%20general%20manager%20of%20the%20Asia-Pacific%20Region%20at%20JPMorgan%20Chase.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22Many%20developers%20may%20exit%20the%20market%20as%20home%20prices%20tumble%20and%20the%20real%20estate%20sector%20reshuffles%2C%22%20Gong%20was%20quoted%20as%20saying%20by%20news%20portal%20wallstreetcn.com%20on%20Sunday.%20%22About%2010%2C000%20developers%20will%20survive%20and%20perform%20better%20than%20now.%22%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EChina%27s%20economic%20growth%20accelerated%20to%207.5%20percent%20for%20the%20first%20time%20in%20three%20quarters%20in%20the%20three%20months%20from%20April%20to%20June%2C%20as%20the%20country%27s%20mini-stimulus%20measures%20to%20spur%20investments%20and%20lending%20took%20effect.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20country%27s%20GDP%20grew%20by%207.4%20percent%20in%20the%20first%20quarter%2C%20the%20slowest%20in%2024%20years.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EZhang%20Hongwei%2C%20research%20director%20of%20Shanghai-based%20property%20consultancy%20TopSur%2C%20said%20in%20a%20research%20note%20e-mailed%20to%20the%20Global%20Times%20on%20Wednesday%20that%20China%20will%20try%20to%20unleash%20more%20demand%20with%20administrative%20measures%20to%20boost%20the%20slumping%20property%20market%20and%20the%20economy%20in%20the%20short%20run.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3ESeveral%20cities%2C%20including%20Tianjin%2C%20Wenzhou%20and%20Haikou%2C%20have%20announced%20adjustments%20to%20their%20home%20purchase%20curbs%20to%20augment%20local%20prices%2C%20while%20many%20others%2C%20such%20as%20Hangzhou%20and%20Shenyang%2C%20are%20expected%20to%20make%20changes%20soon%2C%20according%20to%20media%20reports.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%3CBR%3E%28Global%20Times%29%3CBR%3E%3C/FONT%3E%3C/P%3E
