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Home buying intention edges down as asset loses its appeal
By Maggie Zhang |
December 22, 2011, Thursday
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Online Edition
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CHINESE home purchasing intention dropped to a near three-year low with the asset losing its appeal as the most preferred investment option for individuals in the fourth quarter, a central bank survey showed today.
About 13.9 percent of respondents said they plan to buy a home in three months, down 0.3 percentage points from a quarter ago, the lowest since the People's Bank of China included the question in its quarterly household survey in the third quarter of 2008, the central bank said on its website today.
More households in Beijing and Shanghai said they expected a home price drop in the quarter, the central bank survey showed.
Nationwide, 20.8 percent of respondents said they expect a home price drop, while the figure from Beijing was 28.5 percent. While 26.8 percent of respondents in Shanghai said they have the expectation, up 22.8 percentage points from a quarter ago.
About 16.5 percent of respondents said they prefer housing as an investment, down 7.1 percentage points from a quarter ago.
The quarterly survey covered 50 major cities in China and 20,000 households responded.
About 13.9 percent of respondents said they plan to buy a home in three months, down 0.3 percentage points from a quarter ago, the lowest since the People's Bank of China included the question in its quarterly household survey in the third quarter of 2008, the central bank said on its website today.
More households in Beijing and Shanghai said they expected a home price drop in the quarter, the central bank survey showed.
Nationwide, 20.8 percent of respondents said they expect a home price drop, while the figure from Beijing was 28.5 percent. While 26.8 percent of respondents in Shanghai said they have the expectation, up 22.8 percentage points from a quarter ago.
About 16.5 percent of respondents said they prefer housing as an investment, down 7.1 percentage points from a quarter ago.
The quarterly survey covered 50 major cities in China and 20,000 households responded.
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