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by Overseas Property Mall on Wednesday, February 3rd, 2010 in China Property
The Chinese housing market is seeing phenomenal growth in prices. Despite the global slowdown, property prices in Beijing and Shanghai have quadrupled in recent years, threatening to push house prices beyond the reach of Chinese families.
Because of this, and the fact that most people expect the phenomenal growth to continue, thousands of Chinese families are stretching themselves very thin to buy a house now, for fear that prices will spiral out of their reach in the coming months and years.
by Overseas Property Mall on Monday, January 18th, 2010 in Property Industry News, Property News Summaries
by OP-Mall on Friday, October 17th, 2008 in China Property
Beijing [credits: Wawoe]
China’s property market has taken a steep turn for the worse if we are to believe the various reports that are beginning to surface in major online publications right now.
The signs of trouble are not a total shock to the system of any alert investor, as many would have been aware of the implications when China started to ban major development projects at the beginning of this year due to heavy pollution in the city of Beijing. This ban didn’t happen overnight though, it was advertised in due time to give developers ample time to prepare themselves for the change.
by Overseas Property Mall on Thursday, September 4th, 2008 in China Property, Shanghai Property
The fourth quarter of 2007 saw the end of Beijing and Shanghai’s housing boom. As transaction volumes plummeted by as much as 25 and 40 percent from July to August 2008 and by 67 and 70 percent year on year in Beijing and Shanghai respectively, developers’ are having to offer buyers’ massive discounts to boost sales of new units. According to CCTV, last month’s (August), average daily turnover in Beijing was a meagre 150 units which in Beijing standards is a new all time low.
Secondhand properties are also not doing well with a year-on-year decline of 10-15 percent in August, sellers have having to make price cuts by as much as 5 percent.
The situation at the moment is that it is a buyers’ market in housing in 1st tier Chinese cities with more and more potential buyers waiting to see if there would be further price drops to pick up properties at bargain prices.
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