{"id":175291,"date":"2014-07-20T18:39:12","date_gmt":"2014-07-21T01:39:12","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=175291"},"modified":"2021-09-14T21:20:47","modified_gmt":"2021-09-15T04:20:47","slug":"chinese-city-leverages-party-paper-sell-houses","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2014\/07\/chinese-city-leverages-party-paper-sell-houses\/","title":{"rendered":"Cities Struggle to Spur Real Estate Sales as Prices Slide"},"content":{"rendered":"<p>After years of stunning growth, China&#8217;s real estate market is slowing down. In response to falling prices and decreased demand, <a href=\"http:\/\/www.businessweek.com\/articles\/2014-07-18\/chinas-cities-struggle-to-sell-apartments-as-prices-slide\"><strong>cities across China are taking various measures to encourage sales<\/strong><\/a>.\u00a0Dexter Roberts at Bloomberg Businessweek reports:<\/p>\n<blockquote><p>\nMore bad news from China\u2019s housing market. Apartment prices fell in June in all but 15 of China\u2019s 70\u00a0largest cities. That was the largest number of cities to see prices slide since January\u00a02011, when the government changed how it measures the sector.<\/p>\n<p>Prices in Shanghai and Guangzhou both declined 0.6 percent, while in Shenzhen they dropped 0.4\u00a0percent, China\u2019s National Bureau of Statistics announced in a statement released today. The worst performer was Hangzhou, the capital of Zhejiang province, where prices were down 1.7\u00a0percent.\u00a0The price drop comes amid a glut of excess apartments following years of runaway construction.<\/p>\n<p>[&#8230;]\u00a0In an attempt to spur sales, cities are loosening property restrictions put in place when the market was still hot, reported the official\u00a0Xinhua News Agency\u00a0on July\u00a018.\u00a0Over the past few weeks, Hohot, Inner Mongolia, and Jinan, Shandong, began allowing nonresidents to purchase homes and made it easier to get mortgages. On July\u00a014, Nanchang, Jiangxi, followed suit, dropping restrictions limiting purchases in several of its districts. [<a href=\"http:\/\/www.businessweek.com\/articles\/2014-07-18\/chinas-cities-struggle-to-sell-apartments-as-prices-slide\"><strong>Source<\/strong><\/a>]\n<\/p><\/blockquote>\n<p><a href=\"http:\/\/blogs.wsj.com\/chinarealtime\/2014\/07\/17\/desperate-times-chinese-city-leverages-party-paper-to-sell-houses\/?mod=newsreel\"><strong>One city in Eastern China that was particularly hard hit by the slowdown has turned to a local Party newspaper to urge people to purchase real estate<\/strong><\/a>. China Real Time reports:<\/p>\n<blockquote><p>That notion of Beijing as a regime of real estate salesman was reinforced this week after the Communist Party\u2019s local flagship newspaper in an eastern Chinese city published a front-page article urging people to buy real estate in one of the country\u2019s best-known ghost towns.<\/p>\n<p>\u201cGood Opportunity to Buy Houses in Our City\u201d proclaimed the headline emblazoned across the top of the Tuesday edition of the Changzhou Daily.<\/p>\n<p>The \u201carticle\u201d below (in Chinese) argued that despite recent weakness in Changzhou\u2019s property market, there\u2019s limited downside for prices and it\u2019s \u201ca good time to purchase real estate.\u201d<\/p>\n<p>[&#8230;]\u00a0In a country where land sales make up the primary source of disposable income for local governments, it makes sense that a city might want to do what it can to buoy the market. Still, Changzhou\u2019s thinly veiled attempt to talk up its sagging property sector drew harsh criticism from Internet users and rival media, including the Communist Party\u2019s national mouthpiece \u2013 the People\u2019s Daily. [<a href=\"http:\/\/blogs.wsj.com\/chinarealtime\/2014\/07\/17\/desperate-times-chinese-city-leverages-party-paper-to-sell-houses\/?mod=newsreel\"><strong>Source<\/strong><\/a>]\n<\/p><\/blockquote>\n<p>Read more on <a href=\"http:\/\/chinadigitaltimes.net\/china\/real-estate-market\/\">China&#8217;s real estate market<\/a>, via CDT.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After years of stunning growth, China&#8217;s real estate market is slowing down. In response to falling prices and decreased demand, cities across China are taking various measures to encourage sales.\u00a0Dexter Roberts at Bloomberg Businessweek reports: More bad news from China\u2019s housing market. Apartment prices fell in June in all but 15 of China\u2019s 70\u00a0largest cities. [&hellip;]<\/p>\n","protected":false},"author":1088,"featured_media":175294,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[2,14744,14745,14746,5],"tags":[14784,115,15214,340,14865],"class_list":["post-175291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-level-2-article","category-level-3-article","category-level-4-article","category-society","tag-local-government","tag-newspaper","tag-property-bubble","tag-real-estate","tag-real-estate-market","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cities Struggle to Spur Real Estate Sales as Prices Slide<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2014\/07\/chinese-city-leverages-party-paper-sell-houses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cities Struggle to Spur Real Estate Sales as Prices Slide\" \/>\n<meta property=\"og:description\" content=\"After years of stunning growth, China&#8217;s real estate market is slowing down. In response to falling prices and decreased demand, cities across China are taking various measures to encourage sales.\u00a0Dexter Roberts at Bloomberg Businessweek reports: More bad news from China\u2019s housing market. Apartment prices fell in June in all but 15 of China\u2019s 70\u00a0largest cities. 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