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Land sales in China's 10 big cities surge in Jan (2)

By Hu Yuanyuan (China Daily)

08:43, February 06, 2013

"Construction activity is set to pick up in the next few months. The de-stocking of apartment inventories continues, though the pace varies across cities," said Stephen Green, an economist with Standard Chartered.

Developers expect home sales to be even better this year than 2012, and also expect to see apartment prices rise moderately, he added.

New-home prices in China rose 1 percent in January, the eighth straight month-on-month increase since June.

The average new-home price in 100 Chinese cities increased to 9,812 yuan per sq m, according to the China Index Academy, a research institute under SouFun Holdings Ltd, the country's biggest real estate website owner.

The majority of developers expect central government policy to remain unchanged, while counting on easier financing conditions and more flexible local policies, Standard Chartered's survey said.

In addition, most developers see the quickened urbanization as a trigger for a new round of property development.

According to a report by the World Bank, China's large-scale urbanization and related development projects are likely to drive GDP growth to 8.4 percent in 2013.

Industry experts said that the urbanization process must be supported by an industry upgrading, especially in those small cities and towns.

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Email|Print|Comments(Editor:HuangBeibei、Li Zhenyu)

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