31 Jan '11, 1am

Chinese property 'bubble' fuels hard landing fears

Chinese property 'bubble' fuels hard landing fears

DAVOS, Switzerland : The world business elite raised concerns over China's property prices at its annual get-together in Davos, with some worrying that if the bubble bursts it could hurt growth. "Can China deflate its real estate bubble without generating a hard landing in its economy? It's a serious problem. The Chinese themselves are quite worried about it," said Nariman Behravesh, an analyst at IHS Global Insight. "If you look at the ratio of home values relative to GDP, China is about the same level as Japan's before Japan's bubble burst," he warned. Fueled by rapid economic growth and urbanisation, China's property prices last year defied cooling measures, climbing four straight months to December. The Chinese Academy of Social Sciences, a government think-tank, warned in December that of 35 major cities surveyed, property prices in eleven, including Beijing and Shang...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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