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People's Daily Online>>China Business

Chinese no longer prefer real estate investment

By Ou Yangjie (People's Daily)

15:35, December 23, 2011

Edited and translated by Yao Chun, People's Daily Online

Chinese people’s will to buy real estate has descended to the lowest level since 2008 and real estate is no longer a preferred choice for investment, according to the Depositors’ Survey in the fourth quarter of 2011 issued by the People’s Bank of China, the country's central bank.

Statistics show that 72.9 percent of Chinese residents think house price is “too high to be acceptable”. In the three months to come only 13.9 percent of residents are willing to buy houses, 0.3 percent lower than last quarter, which approaches the lowest point (13.2 percent) recorded in the third quarter of 2008.

The survey shows that in the fourth quarter, 16.5 percent of residents prefer real estate investment, falling sharply by 7.1 percent. The real estate investment is no longer preferred by residents. Instead, investment flows into funds, financial products, bonds and stocks.

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PD User at 2011-12-23183.39.54.*
Untrue, but just a pause till the world markets are clearer in direction is the thought of house buyers and investment groups. Chinese know too well that real estate always build up wealth next to but better than gold bars, ultimately.

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