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Blue paper forecasts Chinese housing market to ease slightly
By Cherry Cao |
May 24, 2012, Thursday
|
Online Edition
Online Edition
HOME prices in China will likely see slight decreases rather than notable drops this year amid contracted sales as the domestic housing market continues to correct, according to a real estate blue paper released today by the Chinese Academy of Social Sciences.
A slack momentum will prevail in the country's property market with home prices extending a downward trend in general through the rest of the year but no significant falls are likely, the annual paper forecast.
A wait-and-see sentiment among real estate developers is expected to dominate the market as the majority of the builders still feel unwilling to offer price cuts mainly due to their high property development costs, or high prices paid for the land in particular.
A cautious attitude will remain the mainstream in the market until clearer signs on the economy and government policies show up, the paper said.
In terms of property sales, purchases of new homes, excluding government-funded affordable housing, will remain flat as industry wide correction continues. Affordable housing, meanwhile, will be released at an accelerated pace, a result from extensive construction conducted around the country over the past few years, the paper said.
A slack momentum will prevail in the country's property market with home prices extending a downward trend in general through the rest of the year but no significant falls are likely, the annual paper forecast.
A wait-and-see sentiment among real estate developers is expected to dominate the market as the majority of the builders still feel unwilling to offer price cuts mainly due to their high property development costs, or high prices paid for the land in particular.
A cautious attitude will remain the mainstream in the market until clearer signs on the economy and government policies show up, the paper said.
In terms of property sales, purchases of new homes, excluding government-funded affordable housing, will remain flat as industry wide correction continues. Affordable housing, meanwhile, will be released at an accelerated pace, a result from extensive construction conducted around the country over the past few years, the paper said.
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