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Home prices 'unlikely' to heat up this autumn

By Hu Yuanyuan  (China Daily)

08:30, September 25, 2012

China's home prices and sales may gain some stability in September and October — months in which the property market usually heats up, industry analysts said on Monday.

"The demand from self-use homebuyers was largely met after home sales saw a strong rebound in July and August," said Carlby Xie, head of research at the real estate consultancy Colliers International (Beijing).

"And the government has policies in the pipeline to prevent home prices from rebounding significantly. So a big price rebound in this usually hot season isn't likely."

The Beijing International Property Autumn Expo, a four-day event that is generally regarded as a barometer of the real estate market, had welcomed 139,000 people guests this year by the time it ended on Sunday, down from the 145,800 who attended the spring expo, according to the organizer of the event.

But the two expos had at least one important difference.

At the spring event, many developers had tried to attract buyers by greatly reducing their prices. Only two developers in Beijing did the same this fall, the organizer said.

Zheng Xiangdong, deputy secretary of the expo's organizing committee, said that trading in the real estate market has been brisk in the past few months and market sentiment has become more optimistic, both possible reasons why fewer discounts were offered in the fall.

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