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Housing policies make impacts

2010-04-22 15:43 BJT

House prices in some Chinese cities are gradually cooling, following the government's series of measures to tackle problems in real estate market.

Beijing's southeast district of Tongzhou has witnessed rapidly increasing housing prices this year. But recently prices have begun gradually cooling.

New properties on the market are offering discounts to attract buyers, and there has been an influx of pre-owned homes for sale. From April 1st to the 11th, an average of 650 pre-owned apartments were listed daily for sale. But last week, that figure surged about 40 percent to more than 1,050 apartments.

Yu Bo, the vice manager of Cetaline Property, said "Home owners are more eager to sell their properties. They have even slashed their prices."

Prospective buyers' are also changing their attitude. They have been more reluctant to outlay deposits, instead preferring to wait and see. Some real estate experts expect this trend to continue until mid-May. The market's changes during this period will likely decide trends for the latter half of the year.

Editor: Zhang Ning | Source: