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China likely to relax property policies in Q3 of 2012: report

(Xinhua)

15:58, November 20, 2011

BEIJING, Nov. 20 (Xinhua) -- China will likely loosen its restrictions on the country's property market in the third quarter of next year, as plummeting prices could slow the growth of the economy, according to a university report.

Property prices, sales and investment will fall in the first quarter of next year because of the government's tightening measures, according to a report released by the Beijing-based Renmin University of China on Saturday. It added that the possibility of a market collapse is slim.

A 20-percent fall in housing prices will force the government to adjust its policies, as a steeper decline will bring economic growth below 9 percent next year, the report said.

The report predicted that the policy shift will probably take place in the third quarter of 2012. The central government will relax credit for the property market and loosen limits on home purchases, the report said.

The price correction will not trigger systematic risks, a massive sellout or an economic "hard landing" in China, the report said.


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