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Fewer Chinese believe housing prices too high, PBOC survey finds
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FEWER Chinese said housing prices were too high in the second quarter compared with the first three months, while 50 percent said they expect prices to stabilize, the central bank said today.
According to a quarterly survey by the People’s Bank of China, 63 percent of residents said house prices were unbearably high in the second quarter, 1.3 percentage points lower than in the first three months.
About 21 percent of residents said they expected housing prices to increase this quarter while 50 percent said they would remain unchanged.
The PBOC’s report also said people preferred saving over investing money. The top three investments were mutual funds/wealth management products, bonds, and real estate.
The survey interviewed 200,000 households in 50 cities between April and June.
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