Thursday, June 14, 2012

China property sales climb amid easing rumour

Property transaction volumes have grown in major Chinese cities, including Shenzhen, Nanjing and Hangzhou, according to a media report.

This comes after authorities tried to quell rumours that the central government is set to loosen its grip on property cooling measures to boost economic growth. Regulators are concerned that such a move would trigger another property bubble.

With property prices yet to show signs of a rebound, buyers seem to be more active in the market. A new survey by the China Real Estate Index System shows that average housing prices in 100 key cities fell in May. The property sales volume for Hangzhou stood at 13,531 as of 11 June, higher than in the same period last year.

Meanwhile, a report said some 11,000 prospective buyers visited a 700-unit residential development in Nanjing city. It quoted unnamed industry watchers who noted that property firms were considering tweaking their inventory strategy to take advantage of new trends, delaying the release of unsold units in anticipation of future price increases.

View the original article here

Source From Property Guru

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