In China, Property Sales Show Signs of Picking Up
Things are looking up for China’s real estate sales. From The Wall Street Journal:
Analysts said the data contained signs of an early recovery in the property sector, key to revival of the world’s third-largest economy. Beijing’s 4 trillion yuan ($585 billion) stimulus plan relies mostly on government-led infrastructure investment, but it also is meant to mobilize private-sector investment in sectors such as real estate.
“The government measures to improve affordability have had a very big impact,” said Michael Klibaner, head of China research at Jones Lang LaSalle, a real-estate-services company. “Between lower interest rates, lower transaction costs and lower down-payment requirements, affordability has improved enough that the number of people that can participate in the market has increased a lot. To us, that means that this recovery can last more than a month or two and will be more sustainable.”
Origin: JOY C. SHAW, Wall Street Journal
POSTED COMMENTS: One Response
I’ve taught in northern China for several years and at no time did anyone tell me real estate was for sale to a private person. You could rent and that is all. If it is possible to buy land and give it to your children as an inheritance I would like to know more.