30 Oct '17, 1pm

Slower growth in Chinese property market

Slower growth in Chinese property market

China has been struggling to rein in property prices for many quarters but has not had much success. Last month, however, property sales by floor area finally fell 1.5% from last September. This is the first time property prices decreased in the last 2 and a half years. August saw a 4.3% increase in property sales and a 34% leap last September. Real estate sector affects overall economic growth The real estate sector in China has a direct effect on the country’s economic growth. It is the economy’s major driving force and affects up to as many as 40 other business sectors. One of the major businesses whose viability is closely linked to the success of the real estate market is construction. While the property market has bounced back after slightly falls in the last 2 quarters, property analysts are less optimistic this time around. Home prices easing in major Chinese citie...

Full article: https://www.iproperty.com.sg/news/slower-growth-in-chines...

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