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Recovery in home sales fuels climb in mortgages
By Feng Jianmin |
August 15, 2012, Wednesday
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Print Edition
Print Edition
A recovery in home sales since April has fueled the rise in mortgages in Shanghai, the People's Bank of China said in a statement yesterday.
New mortgages in July totaled 1.81 billion yuan (US$285 million), up 220 million yuan from a year earlier, the Shanghai headquarters of the PBOC said. But the housing loans were 1.04 billion yuan less than June's.
Overall, mortgages have been rising since April, boosted by the recovery in the housing market.
In July, 859,000 square meters of new homes were sold in Shanghai, below 1.02 million square meters in June - a 17-month high, Shanghai Deovolente Realty Co said.
But July's sales were above the 806,000 square meters sold in May and 610,900 square meters transacted in April.
New mortgages in July totaled 1.81 billion yuan (US$285 million), up 220 million yuan from a year earlier, the Shanghai headquarters of the PBOC said. But the housing loans were 1.04 billion yuan less than June's.
Overall, mortgages have been rising since April, boosted by the recovery in the housing market.
In July, 859,000 square meters of new homes were sold in Shanghai, below 1.02 million square meters in June - a 17-month high, Shanghai Deovolente Realty Co said.
But July's sales were above the 806,000 square meters sold in May and 610,900 square meters transacted in April.
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