Chinese housing market continues to cool: Report

Nevertheless, developers are seeing massive gains

TRD New York /
Apr.April 19, 2015 02:00 PM

A new 70-city survey shows that the Chinese housing market is cooling. But that doesn’t have developers worried – they’re still seeing double-digit gains.

The National Bureau of Statistics said on April 15 that new home prices fell in March in 50 cities, according to Forbes. The survey showed a general decline across China from February sales prices.

That being said, prices in Beijing and Shenzhen increased ever so slightly, up 0.3 percent and 0.5 percent, respectively.

On the other hand, those declines sent new home sales soaring. Volume increased 65.9 percent to 270,000 units in March from the previous month, according to the NBS data cited by Forbes.

Meanwhile, investors pumped roughly $258 billion into real estate in the first three months of the year – a 9.5 percent increase year-over-year. And that’s making developers happy, with one of China’s biggest home builders, Greenland Hong Kong, up a whopping 115 percent in 2015. Even smaller firms like Evergrande Real Estate Group are up – Evergrande is up 50.48 percent. [Forbes]Christopher Cameron


Related Articles

arrow_forward_ios
Tencent CEO Ma Huateng and a rendering of Net City (Wikipedia Commons)

Tencent prepares its insane version of Hudson Yards in China

Tencent prepares its insane version of Hudson Yards in China
Private jets, prostitutes and luxury hotels: Broker’s plea deal points finger at LA councilman

Private jets, prostitutes and luxury hotels: Broker’s plea deal points finger at LA councilman

Private jets, prostitutes and luxury hotels: Broker’s plea deal points finger at LA councilman
Shanghai, China (Credit: Pixabay)

Western financial firms still want a piece of Shanghai’s office market

Western financial firms still want a piece of Shanghai’s office market
Workers disinfect an apartment complex in Wuhan (Credit: Feature China/Barcroft Media via Getty Images)

More than 100 Chinese real estate firms have filed for bankruptcy this year

More than 100 Chinese real estate firms have filed for bankruptcy this year
Many wealthy Chinese have chosen to stay overseas during the outbreak. (Photo by TIZIANA FABI/AFP via Getty Images; Unsplash)

Coronavirus disruption is slowing down the global luxury market

Coronavirus disruption is slowing down the global luxury market
Medical staff outside of a Beijing hospital in February 2020 (Credit: Getty Images)

Coronavirus is wreaking havoc on China’s landlords

Coronavirus is wreaking havoc on China’s landlords
China’s coronavirus outbreak appears to be slowing property sales activity in affected areas of China. (Credit: iStock)

How Chinese developers are exposed to Coronavirus

How Chinese developers are exposed to Coronavirus
China’s prefabricated hospital in Wuhan on January 30. (Credit: Getty Images)

Building the Coronavirus hospital in just 10 days

Building the Coronavirus hospital in just 10 days
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...