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China may curb house prices
By Cao Qian |
March 27, 2010, Saturday
|
Print Edition
Print Edition
CHINA will very likely introduce further policies this year to cool down the real estate sector as soaring prices have emerged as a key social issue that tops the government agenda, Deloitte predicted yesterday in its latest China Real Estate Investment Handbook.
"China's real estate market enjoyed a strong rebound in the second half of 2009, underpinned by the government stimulus package and availability of a capital," said Richard Ho, Deloitte China national real aaeestate industry leader.
"The government has introduced various measures to curb property prices and we expect more policy changes in 2010 as property prices remain high."
China's urban property prices rose 10.7 percent, the most in 23 months, in February, the National Bureau of Statistics said earlier this month. It was the ninth consecutive monthly increase since June, when property prices in the 70 cities tracked by the government started to rise following six months of minor declines.
Gong Min, a research manager at Shanghai Centaline Property Consultants Ltd, agreed with Deloitte.
"The central government will probably take further steps to cool down the overheated real estate market this year, but it's unlikely that tough measures will be introduced as the sector remains a significant growth engine for the country's economy," Gong said. "Some tightening policies on home loans as well as property-related taxes may be implemented if housing prices continue to increase."
Real estate investment accounted for 16 percent of the country's total fixed-asset investment in 2009.
"China's real estate market enjoyed a strong rebound in the second half of 2009, underpinned by the government stimulus package and availability of a capital," said Richard Ho, Deloitte China national real aaeestate industry leader.
"The government has introduced various measures to curb property prices and we expect more policy changes in 2010 as property prices remain high."
China's urban property prices rose 10.7 percent, the most in 23 months, in February, the National Bureau of Statistics said earlier this month. It was the ninth consecutive monthly increase since June, when property prices in the 70 cities tracked by the government started to rise following six months of minor declines.
Gong Min, a research manager at Shanghai Centaline Property Consultants Ltd, agreed with Deloitte.
"The central government will probably take further steps to cool down the overheated real estate market this year, but it's unlikely that tough measures will be introduced as the sector remains a significant growth engine for the country's economy," Gong said. "Some tightening policies on home loans as well as property-related taxes may be implemented if housing prices continue to increase."
Real estate investment accounted for 16 percent of the country's total fixed-asset investment in 2009.
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