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Hurry to buy Apartments in China. [Copy link] 中文

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Post time 2011-3-30 17:06:58 |Display all floors
The price of apartment would probably rise soaringly again.

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Post time 2011-3-30 17:07:42 |Display all floors
Shanghai sets target for home-price rise

By Wang Ying (China Daily)

SHANGHAI - The Shanghai municipal government announced on Monday evening its target for controlling the growth rate of city housing prices this year, becoming the first among first-tier cities to make that commitment. Experts said the goal is attainable.

The city intends to keep the rate of price increases in newly built homes in 2011 lower than the growth rate of the city's gross domestic product (GDP) and per capita annual income of urban and rural households. Meanwhile, the total area of completed government-subsidized properties should exceed that of commercial properties, a notice on the city's website said.

The notice comes amid calls from the central government to cool overheated property markets across the nation. The State Council launched a series of tightening measures on Jan 26 to contain housing-price increases, including raising the down payment for second-home buyers to 60 percent of the full price, from 50 percent, and requiring all local authorities to set their annual home-price-control targets by the end of March.

However, as of late Monday, only 69 of the more than 600 cities across the nation had announced their plans, according to Oriental Morning Post report.

In January, Shanghai forecast its GDP will expand by 8 percent in 2011 and its per capita annual income of urban and rural households will maintain a similar pace.

"The goal is reasonable, and it shows the local government's determination to rein in soaring home prices," said Ding Zuyu, co-president of the China Real Estate Information Corporation. Because of the restrictions imposed on families buying more than one property, the limited high-end property transactions will not drive the average home price higher, and that guarantees the goal will be realized, Ding added.

"The local government will reach the goal by all means," said Chen Sheng, deputy director of the China Index Academy in Shanghai. "The increased supply of land and government-subsidized homes will greatly ease the high demand and keep housing prices from rising too quickly," Chen said.

The latest data available from the Shanghai Municipal Statistics Bureau show the average price for newly built residential property in the city was 14,213 yuan ($7,622) for each square meter (sq m) in 2010, so the goal is to keep the average home price no higher than 15,350 yuan for each sq m, an increase of 8 percent.

Chen said home prices in Shanghai will be unchanged for the next six months, "only a few commercial residential property projects will lower prices to attract homebuyers".

Lu Qilin, research director at Shanghai Deovolente Realty, said budget homes will lower the average home price across the city, making the goal easier to reach. "In that case, I am afraid the increase rate of commercial property home price could rise even more than 10 percent, as long as there is a sufficient supply of government-subsidized homes," Lu said.

Chen said the Shanghai target is one of the lowest rates of increase among all the cities that have published their targets. "In recent months, almost everything's price has increased. An 8 percent increase is not that much, taking rising consumer price index into consideration," Chen said.

China aims to keep its consumer price rise at around 4 percent this year.

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Post time 2011-3-30 17:18:00 |Display all floors
The city intends to keep the rate of price increases in newly built homes in 2011 lower than the growth rate of the city's gross domestic product (GDP)

This is to say, the growth rate of houses prices would be much higher than CPI, than the interest rate of bank loans.

Among the rampant corruption, many apartments of welfare type would be distributed into the pockets government officials again.

Government have to collect money to construct these apartments of welfare type. Where the money from?
And the land are under the monopoly of government. Governemnt definitely drive the land rental higher and higher.

hahahaaa...
Comments in Chinese forums:

Please let the house prices go higher and higher as soon as possible.  

Please throw away Chinese citizenship and move some of the assets outside of China as soon as possible, though you can still stay here to earn money in this land.

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Post time 2011-3-30 17:19:17 |Display all floors
Originally posted by seneca at 2011-3-30 17:10
Just curious: Why don-t you exhort us to buy 'departments' this time?
Originally posted by 468259058 at 2011-3-30 17:18
The city intends to keep the rate of price increases in newly built homes in 2011 lower than the growth rate of the city's gross domestic product (GDP)

This is to say, the growth rate of houses prices would be much higher than CPI, than the interest rate of bank loans.  ...

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Post time 2011-3-30 17:45:29 |Display all floors
1 The policy changes of Central government drive the property developers from small firm to large corporations.
The policy changes bring steadily great benefits to our property developers.
Everything was changing, only one thing was not changed - The GDP growth.

2 the employment is the top priority.

3 Government probably won't accomplish the task of CPI - lower than 4%. Government set the growth rate at 4% for urbanization.  At least million Chinese need to get a living shelter in the next 5 years.

4 Our resolution to control house prices doesn't change.
I worried about that the government objective is driving the house prices higher and higher, not going down.

...

from an honest property developer, Ren Zhiqiang, from National the conference of National conference of property developer.

source: money.msn.com.cn/jcyl/20110326/08371217366.shtml

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Post time 2011-3-30 17:51:04 |Display all floors
Comments from Forums.

You prefer to trust a dog rather than property developers.
You prefer to trust a property developers rather than the government officials.

Government and its officals rob the largest part of profits.
property developers reap the 2nd largest part of profits.

Who is suffering?
The most young Chinese in middle class are mortgage slaves now.
The most young Chinese in middle class had savings in bank in 1990s.

The average income of city people was going down and down measured by some commodities, not by the paper money, from the late 1990s.

though Government officials boast how great the growth of China's GDP from time to time.

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Post time 2011-3-30 17:54:15 |Display all floors
Chinese laws:

It's illegal for a Chinese with city-hukou certificate to buy any house in most of Chinese land, even in many downtown area.

It's illegal for a Chinese with city-hukou certificate to buy any house owned by village-hukou houses in village-hukou land.


Every year, government only sell a small part of city-hukou land to property developers  for residential apartment construction  at sky high pices.

Is it ridiculous??  But it's the shameful reality of China.

[ Last edited by 468259058 at 2011-3-30 05:55 PM ]

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