Cooling property market in China
Figures recently published by the National Bureau of Statistics show that government led cooling measures are having the desired effect as property prices in China continue to fall.
Residential property prices fell during May for the eighth consecutive month – however the rate of decline has slowed considerably in the last couple of months. Financial restrictions put in place two years ago are not expect to change any time soon. Observers believe officials are keeping a close eye on the economy and the rate of inflation which will determine any changes to existing policies.
Chinese property experts believe that residential property prices across most regions are nearing bottom and potential home buyers seem keen to make a move in to the homeowner sector before prices rebound – although most experts agree there is little chance of that happening any time soon. Central government confirm that property tightening measures remain in place.