[ 2006-11-14 10:13 ]
China's real estate prices
maintained their robust growth last month, but the number of transactions
involving foreign institutional investors declined due to restrictions on
|China's real estate prices maintained their robust growth
Property prices in China's 70 large- and medium-sized cities rose 5.4
per cent in October, 0.1 percentage points higher than August's rise, the
National Development and Reform Commission (NDRC) said in a statement
The sales prices of
high-end and ordinary residential buildings saw
year-on-year rises of 7.7 per cent and 6.4 per cent, up
0.7 and 0.1 percentage points compared to last month.
Beijing witnessed the biggest price rise, with year-on-year growth of
10.7 per cent, while Shanghai saw its prices drop 0.6 per cent compared to
the same period last year.
Influenced by a government rule restricting foreign investment in the
real estate sector, the number of transactions involving foreign
institutional investors declined recently, according to a report by
US-based consulting firm CB Richard Ellis (CBRE).
"Some overseas investors are expected to remain on the sidelines and wait for a clear
direction to emerge against the backdrop of present policy uncertainties,"
said Ray Huang, a researcher with CBRE's Investment Properties Department.
The new policy has slowed the entry of speculative capital to China's
real estate market, but benefited overseas investors adopting a long-term
approach towards investment.
Meanwhile, demand for luxury residential apartments remains strong both
in Beijing and Shanghai.
year-on-year rises: 同比增长