23 Feb '17, 7am

China’s home prices to drop further in 2017 -

The Chinese government has introduced several cooling measures on home buying and lending since last October. The growth of home prices in China marginally weakened for the fourth consecutive month in January as demand declined further in major cities, reported Reuters , citing data from the National Bureau of Statistics (NBS). On average, prices of new homes in 70 large cities rose by just 0.2 percent in January on a monthly basis compared to the 0.3 percent gain in December. This represented the fourth month of softer price growths, with experts expecting further falls over the next 12 months. “I think home prices have basically peaked. Considering the yearly growth is still strong, prices are likely to keep falling this year,” said Zhou Hao, a Singapore-based economist at Commerzbank. On an annual basis, overall home prices still increased significantly by 12.2 percent ...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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