No signs of cooling for the Chinese housing market

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Fordaq
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The Chinese housing market shows little sign of cooling. Data from lenders is showing medium and long-term household loans, which are mostly mortgages, made up 75% of new loans issued in October, up from the 47% in September.

Investment in real estate development in the first ten months of 2016 increased 6.6% year-on-year, of which investment in homes expanded 6% and accounted for 67% of all real estate development investment.

In the first ten months of this year the area of land area purchased for real estate development fell 5.5%, a trend apparent since the beginning of this year. However the pace of decline eased in October.

Growth in housing sales stayed steady in China in the first 10 months of year, but slowed for the month of October alone, after a slew of cities cracked down on their overheated property markets.

Housing sales rose almost 43% in the first 10 months of this year compared to a year earlier according to data released by the National Bureau of Statistics. However in October the pace of growth in sales slowed as many Chinese cities put a brake on sales by demanding higher down payments.

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