Chinese goverment vows to boost property market

China has experienced some excellent property price growth recently, with the past five years seeing double-digits, however the latest figures show that the annual growth rate has plummeted to around 9 percent, well below most forecasts. The slowdown is thought to be partly down to global financial worries and some experts believe the slowdown will continue if China’s exports start to be affected.

The Chinese government have vowed to help boost the property market’s growth rate back up again by investing in even more infrastructure projects including roads, airports, nuclear power plants and hydro-electric power stations. Taxes on residential properties purchases will also be lowered.

The outlook for Chinese real estate and property still looks fairly healthy with over 70 Chinese cities showing year on year increases, with new property prices showing an increase of around 4 percent compared with the same price this time last year. Several cities continue to shine with high property price growth – Haikou has seen a growth rate of 15 percent, Yinchuan 12.7 percent, and Yichang 10.3 percent.

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