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China's property market continues to cool off in May

English.news.cn   2014-06-13 16:31:09

BEIJING, June 13 (Xinhua) -- China's property market has shown more signs of cooling with the property development climate index dropping 0.77 points from April to 95.02 points in May, official data showed on Friday.

The figure has declined month on month for four consecutive months, according to the National Bureau of Statistics (NBS).

This index takes into consideration multiple aspects of the industry, including property investment as well as the area of property sold and sales volume.

In nominal terms, the country's investment in property development rose 14.7 percent year on year to 3.07 trillion yuan (about 500 billion U.S. dollars) in the first five months, slowing by 1.7 percentage points from the Jan.-April period.

The total area of property sales dropped 7.8 percent year on year in the first five months to 360.70 million square meters. The drop was 0.9 percentage points steeper than the decline seen in the Jan.-April period.

Property sales volume was down by 8.5 percent year on year during this period, compared with a drop of 7.8 percent in the first four months, according to the NBS.

Related:

China's property market continues to cool off in May

BEIJING, June 13 (Xinhua) -- China's property market has shown more signs of cooling with the property development climate index dropping 0.77 points from April to 95.02 points in May, official data showed on Friday.

The figure has declined month on month for four consecutive months, according to the National Bureau of Statistics (NBS). Full story

Xinhua Insight: Tight property loans restrain China's housing market

BEIJING, June 4 (Xinhua) -- Sluggish home sales, increasing market supply and declining property prices epitomize China's cooling real estate market. And there are worries that the decline may continue as banks become reluctant on mortgage lending.

In east China's Nanjing, for example, a postgraduate surnamed Li is interested in buying a four-bedroom apartment. Li is able to pay a 70-percent down payment, but still needs to apply for bank loans to complete the payment. So far, the application remains unapproved. Full story

China's property market continues to cool off in May

BEIJING, June 13 (Xinhua) -- China's property market has shown more signs of cooling with the property development climate index dropping 0.77 points from April to 95.02 points in May, official data showed on Friday.

The figure has declined month on month for four consecutive months, according to the National Bureau of Statistics (NBS). Full story

Xinhua Insight: China's property market grows up

BOAO, Hainan, April 12 (Xinhua) -- The Chinese property market might not crash precipitously but is becoming tricker, more volatile and sophisticated.

Will property prices fall over 80 percent this year? Developers attending the Boao Forum for Asia say no, but volatility is notoriously unpredictable. Full story

China property market down cycle may last longer: Moody's

BEIJING, June 8 (Xinhua) -- Moody's latest report forecast that the current slowdown in housing demand in China will last longer than the two previous downward cycles due to the ongoing economic rebalancing and high inventory.

"We expect the current slowdown to last longer than the down cycles in 2008 and 2011 as the government is unlikely to completely remove home purchase restrictions," said Franco Leung, a Moody's Assistant Vice President and Analyst. Full story

Editor: Lu Hui
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