Monday, January 17, 2022

Housing prices in major Chinese cities are indicative signs of stabilization

Must Read

Unilever will begin negotiations on a £ 50bn GlaxoSmithKline megadeal

Consumer goods giant Unilever is working on a £ 50bn megadeal to buy a stake in rival GlaxoSmithKline,...

Buccaneers beat Eagles to advance to NFL divisional round

TAMPA, Fla. - Tom Brady was thrown for 271 yards and two touchdowns on Sunday, helping the...


BEIJING, Jan. 5 (Xinhua) – New home prices in major Chinese cities have risen slightly after promotions and discounts by developers, with recent industry data suggesting that the real estate market is stabilizing after facing winds last year. is an approximate sign.

Prices in secondary cities, including some provincial capitals, rose 0.03 percent in December after falling 0.02 percent in November, according to the China Index Academy on Saturday.

In first-tier cities like Beijing, prices fell 0.07 percent, slightly slower than in November, when they fell 0.1 percent.

Buyers ’sentiment in the real estate market has been shaken since last year due to a liquidity crisis among developers, which delayed project completion and even led to the default of a number of bonds.

The government has called for a stable economy this year as the ruling Communist Party convenes a congress every five years and expects policies to support non-speculative home buyers.

In recent months, the government has eased property financing somewhat to prevent a difficult landing for the sector, although it has not lifted restrictions designed to reduce leverage and stop speculation.

Since November, measures have been introduced to increase home purchases in at least 10 cities, including reducing subsidies and taxes. Real estate firms have also offered discounts.

In the southern city of Shenzhen, some of the 290 units in the Logan Group project were sold after a Hong Kong-listed firm offered an average 8% discount on starting prices, the seller said.

New home prices in Shenzhen rose 0.05 percent a month after falling 0.15 percent in November, according to the China Index Academy. In Beijing, they fell 0.03% from a month earlier, almost unchanged from November.

The housing project, which went on sale in October in the capital’s eastern district of Tonzhou, offered buyers a 1% discount if they made an initial payment of seven days to a month, the seller said.

Homes for sale, valued at about 3 million to 8 million yuan ($ 1.26 million), are being built by borrower Yonggo Group, which in May bought a plot of land in Tonzhou in partnership with state-owned Beijing Urban Construction Group.

Half of all units were sold, the dealer said.

The official price data for the month of December falls on January 15th. ($ 1 = 6.3723 Chinese yuan renminbi) (Liangping Gao and Ryan Woo report; edited by Ana Nicolas da Costa)

.

- Advertisement -
Latest News

Unilever will begin negotiations on a £ 50bn GlaxoSmithKline megadeal

Consumer goods giant Unilever is working on a £ 50bn megadeal to buy a stake in rival GlaxoSmithKline,...

Buccaneers beat Eagles to advance to NFL divisional round

TAMPA, Fla. - Tom Brady was thrown for 271 yards and two touchdowns on Sunday, helping the Tampa Bay Buccaneers start their...

After Unilever offered a shock, competitors are turning their backs on the GSK consumer

GlaxoSmithKline’s consumer hand could lead to a full trade war after...

“Ke, Korean zombies!” – Giga Chikadze is not happy with Chan Sung Jung’s UFC Vegas 46 tweet

Ahead of the UFC Vegas 46 fight card, Giga Chikadze has voiced his opinion that Chan Sung Jung aka “Korean zombie”...

No Way Home’ with $30.6M at box office

NEW YORK - A month later, the No. 1 spot in "Spider-Man: No Way Home" finally hit the box office. The re-launch...
- Advertisement -

More Articles Like This