Shenzhen Real Estate Market Needs Cooling?
The Centaline Group predicted this month (June 2006) that residential house prices across China are set to drop 10-15% by mid-August thanks to government market-cooling policies. Home owners will love that one!
In the first half of 2006, apartment sales were down almost 20% compared to the same period in 2005, with ‘only’ 3.5 million sq m changing hands.
Meanwhile, the Development Research Center of the State Council predicts an overall 5% rise in property prices China-wide. 2006 is likely to see around a 20% growth in property development investment…
53% (over 4000 hectares) of the land bought in Beijing between 2002 and 2005 stands undeveloped. Can anyone detect a “stockpiling” strategy here by the Chinese real estate speculators?
Filed under: Shenzhen News —