China - property prices in major cities to grow strongly again
The rise in prices of new buildings in most cities is moving at a sustainable level lower than increasing disposable income of the population. This will, according to some estimates, growth in house prices this year by 7.5 - 13%.
Prices of existing homes also rose in March in Beijing by 9.1%, 7.2% in Shanghai, Guangzhou 7.5% and 6.2% in Shenzhen.
Home sales in Q1 of this year grew by 69% to 1.2 trillion yuan = approx 194 mld.USD, which was the highest growth in the last three years.Prices and sales are growing despite earlier government efforts to cool the real estate sector, a series of restrictive measures.
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