Latest News:  
Beijing   Light snow    0 / -4   City Forecast

People's Daily Online>>China Business

Housing sales fall 15 pct in major S. China city

(Xinhua)

14:53, January 19, 2012

GUANGZHOU, Jan. 18 (Xinhua) -- New commercial housing sales fell 15.2 percent year-on-year in terms of floor area in 2011 in the bustling southern city of Guangzhou as government curbs have managed to cool property speculation.

Meanwhile, new commercial housing prices climbed an average of 2.5 percent last year in ten districts in Guangdong's provincial capital, the Guangzhou Land Resources and Housing Management Bureau said in a press release.

The bureau said it has achieved the control target set at the beginning of last year by capping the price rise below the annual growth rates of the economy and disposable income.

Despite a year-on-year rise, new commercial housing prices have fallen month-on-month for four consecutive months, the statement said.

Last December, the sales decline accelerated to 28.2 percent year-on-year with 345,300 square meters in floor area, while prices fell 7.8 percent to 13,286 yuan (2,100 U.S. dollars) per square meter on average.

The Chinese government has managed to cool the once red-hot property sector by instituting measures such as purchasing restrictions, higher lending rates and down payments for second homes, and a ban on mortgage loans for third homes last year.

The central government is continuing its work this year to bring housing prices to a reasonable level, with last year's control measures remaining in effect through 2012, according to the country's central economic work conference held last month.

Email|Print|Comments(Editor:燕勐)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Chinese premier starts official visit to Qatar

  2. Spring Festival atmosphere spreads all over China

  3. China through foreign lens

  4. Dough modelling artist makes preparation for Year of the Dragon

Most Popular

Opinions

  1. No one can say 'no' to peace
  2. Farewell to double-digit GDP growth
  3. Actions speak louder than words
  4. New driving force for East Asian cooperation
  5. In love with luxury amid global gloom
  6. China should take fight to US over Iran
  7. How will HK go through economic difficulties in 2012
  8. US dollar is just a dirty shirt
  9. Factors affecting world economy in 2012
  10. Why Russia's aircraft carrier visits Syrian port

What's happening in China

Weather turns bad as back-home travel peaks

  1. New rule to fine taxi drivers for refusals
  2. Holiday spending puts some on edge
  3. Chinese people moving to virtual space
  4. Hong Kong waits for dragon's roar
  5. Sanya's "Around-the-City Highway" opens to traffic

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance