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Moody's raises China's property outlook
By Ye Zhen |
November 30, 2012, Friday
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MOODY'S Investors Service raised its outlook for China's property sector to stable from negative on optimism property sales will continue to grow moderately in 2013 amid expected solid demand and favorable business conditions.
The rating agency expects China's home sales to grow by single digits annually over the next 12 months but the average selling prices will be lower as developers have shifted their focus from luxury homes to mass market housing.
"A solid underlying demand, the continuing trend of urbanization, and an increase in the development of affordable mass-market housing should drive sales growth," Moody's said in a report released yesterday.
Moody said the likely higher property sales may be offset by lower selling prices as developers have turned to building mass-market homes catering to first-time buyers.
China's property market has been warming up in the past few months after the central bank cut interest rates and banks' reserve requirement ratio earlier this year to bolster the slowing economy.
Moody's does not expect the government to tighten restrictions on home purchases
The rating agency expects China's home sales to grow by single digits annually over the next 12 months but the average selling prices will be lower as developers have shifted their focus from luxury homes to mass market housing.
"A solid underlying demand, the continuing trend of urbanization, and an increase in the development of affordable mass-market housing should drive sales growth," Moody's said in a report released yesterday.
Moody said the likely higher property sales may be offset by lower selling prices as developers have turned to building mass-market homes catering to first-time buyers.
China's property market has been warming up in the past few months after the central bank cut interest rates and banks' reserve requirement ratio earlier this year to bolster the slowing economy.
Moody's does not expect the government to tighten restrictions on home purchases
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