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SG China home prices may rise 8%

Property Here - Friday, May 17, 2013

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By Shabnam Muzammil:

Property experts expect average home prices in China to grow by three to eight percent this year as sales volume climbs 5.6 percent.

“The growth rate of property sales this year will be very similar with that of last year, despite the government's latest round of policy tightening,” said Nicole Wong, Regional Head of Property Research at CLSA Asia-Pacific Markets.

Home sales in the first four months eased to 59.8 percent from 61.3 percent during the January to March period, but the amount of floor space sold rose to 38 percent, the National Bureau of Statistics said.

“Though the average home price across the country will increase by three to eight percent in 2013, the price hike in key cities such as Beijing, Shanghai and Guangzhou could hit 20 percent,” added Wong.

A survey done by CLSA found that 43 percent of property developers and 35 percent of potential buyers expect prices to rise.

Wong also expects the imbalance in demand and supply to improve by end-2013. 



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg