China’s Developers Surge After Interest Rate Cut

Bloomberg news staff Bonnie Cao reports on the central government interest rate cut and the immediate effects on the :

“All must continue to strictly implement a differentiated housing credit policy to continue curbing buying for spec

ulation and investment purposes,” the central bank said in its interest-rate statement yesterday.

Jinsong Du, a Hong Kong-based property panalyst at Credit Suisse Group AG, in a note to clients yesterday wrote investors or speculators will increasingly re-enter the housing market, pushing up housing “meaningfully in the next few months.”

[…]

“The momentum of the had already picked up as developers reported good June sales,” said Nicole Wong, a Hong Kong-based property analyst at CLSA Asia-Pacific Markets. “The second round of interest rates cut will just drive the momentum better and better.”

Read more about China's real estate market and interest rates via .

 

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