Property sales up 57.1% in june in China

There was a strong rebound of demand over the past six months, with more active transactions in Beijing, Tianjin, Chongqing, Wuhan and Hanghzou that posted 100-percent year-on-year jump in the rate of transactions. In Shenzhen, the figure exceeds 150 percent, according to the data.

China Vanke Co., the country’s largest property developer by market value, said its June revenue from property sales rose 57.1% from a year earlier to 6.86 billion yuan ($1 billion). In terms of property area, it reached 671,000 square meters, up 49.9 percent from the same month of last year.

Its statement provided to the Shenzhen stock exchange stated that property sales revenue for the first six months of the year rose 27.5% from a year earlier to CNY30.76 billion. Vanke sold about 3.49 million square meters of houses in the first half year, up 31.2 percent year on year, according to its statement released at the Shenzhen Stock Exchange on Saturday.

China Vanke didn’t provide year-earlier figures or give a reason for the sales results.

In 2008, the company experienced a 8.6-percent drop in its housing sales to 47.87 billion yuan resulting to a net profits decline by 16.7 percent from a year earlier.

Analysts say demand for residential properties in mainland China has rebounded noticeably since February following market-boosting measures by Beijing, including tax breaks, smaller down-payment requirements and lower loan rates for first-time buyers.

It is believed that falling housing costs last year and added financial support to personal loans are two reasons for the boost in the market.

However, China?s housing market should be alert to American-style risks.

The US, in order to stimulate its economy and accelerate the recovery of its real estate market, relaxed mortgage regulations and lowered lending thresholds for mortgages by requiring zero down payments and offering loans to families originally deemed incapable of repaying the loan.

However, as house prices continued to fall and interest rates rose, mortgage default rates significantly increased, triggering a chain of market crises. This is a lesson that must always be remembered.

Source : Konaxis

0 comments

Add your comment

Commenting is allowed only for registered users.

Other articlesgo to homepage

Understand the “Mianzi” in Chinese professional life

Understand the “Mianzi” in Chinese professional lifeComments Off

You might already know what is the Face concept in China. In case your relations with your Chinese business partners were limited to business trips, this article offers complementary details about the manifestations and impacts of the Face in China, in case you have to might daily with Chinese in your professional life. This understanding

Trends in the Chinese Online Education Industry

Trends in the Chinese Online Education IndustryComments Off

The Increase of China on the net Training Market place Income of online training sector in China achieved 84 billion Yuan in 2013, with a 19.9%-growth from 2012, based on the 2013-2014 China On-line Education Report unveiled by iResearch. The huge Potential of China on the internet Education Market place The 3 key engines are

Student-Entrepreneur : The New Way of Employment in China.

Student-Entrepreneur : The New Way of Employment in China.Comments Off

ina is one of the most populated country in the world with almost 2 billion inhabitants. Each year, more than 7 million of students are gratuated and only 1/3 find a job. There is a dizzy problem of employment. The employment market is more and more stuggled. That’s why, a lot of student prefered to

U.S. Intelligence Sees China’s Web Strategy Power Expanding

U.S. Intelligence Sees China’s Web Strategy Power ExpandingComments Off

U.S. Intelligence Sees China’s Military Expanding Bases China’s initially overseas armed service base inside the small African place of Djibouti is “probably the first of many” the nation intends to create around the world, which could provide its interests into conflict while using the U.S., according to American intelligence officials. China has the fastest-modernizing armed forces China has the fastest-modernizing armed forces in the globe upcoming to your U.s.,” according to insights presented Thursday by U.S. intelligence officials, who questioned to not be determined to speak about the knowledge. That may generate “new parts of intersection — and possibly conflicting safety passions involving China and the USA together with other countries abroad,” in accordance

US$1.8 Trillion : the Chinese Consumption by 2021

US$1.8 Trillion : the Chinese Consumption by 2021Comments Off

Luxurious manufacturers in China have had to deal with down a slowing financial system for many time, but a brand new report by Boston Consulting Group (BCG) and Alibaba Group’s study section, AliResearch sheds a more constructive light-weight on China’s purchaser economic system. By 2021, Chinese people are envisioned to add US$1.8 trillion in new

read more

Contacts and information

Social networks

Most popular categories

Real Time Analytics