Apple News Facebook Twitter 新浪微博 Instagram YouTube Wednesday, Mar 15, 2023
Search
Archive
English>>

China's housing market expects soft landing in 2020

(ecns.cn)    10:13, November 28, 2019

Residential buildings are under construction in Haikou, Hainan Province. (Photo/China News Service)

China's housing market in key cities will first experience a slowdown, followed by stable growth in 2020, according to the latest report by CASS National Academy of Economics Strategy.

House prices in China’s key cities this year bounced in the period from Feb. to April, lost growth momentum in May-July, and then entered a period of stability or slight drop-off from Aug. to Oct.

Prices last month reported a rise of 0.3 percent year-on-year, or 0.028 percent more than in Sept., the report stated.

Of the four first-tier cities – Guangzhou, Beijing, Shanghai and Shenzhen - only Shenzhen maintained a consistent price increase till now.

The latest boom circle in the real estate sector started at end 2015 and has now drawn to a close. It is forecast that internal economic growth would prevent housing prices from falling sharply.

It said great disparities exist in China’s real estate sector, so the possibility of a rapid price rise or decline in some areas cannot be ruled out.

The report further called on authorities to maintain control measures to cool down property speculation.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)
(Web editor: Wen Ying, Liang Jun)

Add your comment

Most Read

Hot News

We Recommend

Photos

prev next

Related reading