Business
12:14, 27-Jul-2017
China’s property market: up or down?
[]
Share
Copied
By CGTN's Dialogue
Faced with surging home prices, Beijing introduced policies in March to “cool down” the property market, and now with the initiation of the construction of Xiongan New Area – a new city meant to relieve pressure in the capital - experts predict prices will drop further.
“The price has been going down, also comparing to last year, in the same period of time: the price has been going down, both (in) the new market and the resale market," Vincent Mo, board chairman at Fang.com, a Chinese real estate Internet portal, told CGTN's Dialogue.
"To the end of the year, I think the trend will be like this," he added.
Xiao Geng, a professor at Hong Kong University, cautioned however that the trend was not permanent.
“Beijing’s housing price has gone up in the past… (This) means people will consider alternatives more and more," he noted.
"When the center of the city price goes up, then people consider moving further away. This is a global trend. And I think Xiongan is a long term plan, which is necessary.”
Dialogue with Yang Rui is a 30-minute current affairs talk show on CGTN. It airs daily at 7.30 p.m. BJT (1130GMT), with rebroadcasts at 3.30 a.m. (1930GMT) and 11.30 a.m. (0330GMT).