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Individuals Buy Most Housing in Sichuan
Individuals have become the mainstay of home buyers in Sichuan Province, one of the most populous areas in western China.
In the first half of the year, the province sold houses with a total floor space of 1.74 million square meters, up 13 percent from a year earlier. More than 93 percent of the buyers are individuals.
A provincial government official cites two reasons for the booming real estate market. One is urban residents now show growing enthusiasm in purchasing new homes due to the on-going housing reform and improved services in house purchase. The other is that state banks offer loans to new home buyers.
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