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China's home prices will edge up 6.8% in 2017
In 2017, China's home prices will probably ascend more than previously estimated notwithstanding a storm of government curbs to tame speculation, as a Reuters survey revealed on Tuesday, thus soothing concerns that the Chinese economy would slow abruptly.
Property prices will keep rising steadily as heavy government intervention assisted partly by a shift in demand to China’s smaller cities. That’s what the survey of 13 property experts and economists from August 21-28 disclosed.
As for average nationwide home prices, they were supposed to soar a median 6.8% in 2017 compared with a median forecast of 2% surge in the last survey in February.
In 2016, prices of new homes in China tacked on 12.4%, which is the fastest rate since 2011.
A resilient property market are going to be positive news for China's policymakers, willing to keep the real estate market steady before a once-in-five-years Communist Party congress.
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