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Chinese Housing to Observe Double Digit Growth
Sep 11, 2009
With improved regulatory measures, high domestic savings and huge base of potential prospects, China’s housing industry will continue growing in double digits, says a recent research titled “China Housing Sector Outlook 2013” by RNCOS. The report projects the industry to grow at a CAGR of about 11% between 2009 and 2013.
Our findings suggest that the Chinese government has played an active role in boosting the housing demand in China during the odd times of global financial crisis. The government announced a series of new measures to boost the domestic real estate market, which have shown signs of slow down amid the financial turmoil. The measures were basically concentrated on tax reduction and relaxing restrictions on financial institutes to give loans to private home buyers.
The market has displayed a positive response towards these measures of tax reduction and easy financing. For example, in the first half of 2009, Beijing sold 83,000 Units of residential properties at an average price of RMB 13,000 per Sq Meter, reflecting a year-on-year growth of 86% in transaction volume. Similarly, buying sentiments for houses in Shanghai have also improved both in the new and used homes sector. The overall real estate sales in Shanghai rose 65.5% (YOY) in April 2009, which included a growth of 77.8% in residential sales.
However, the housing industry in China had not been immune from global economic meltdown. It observed a deep slump during the second half of 2008, but with government’s prompt response, the market has started recovering fast. And, we expect that the market will soon resume its original growth.
“China Housing Sector Outlook 2013” is a comprehensive research report that comprises in-depth analysis on the housing industry in China. It studies the emerging market trends, recent developments and their impact on the concerned market. The report will help clients to analyze the leading-edge opportunities, prospective customer base, key players, expected future outlook and all the other factors which are critical to the success of a new entrant in the housing industry of China.
For more information visit: http://www.rncos.com/Report/IM212.htm
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