2015-02-25

China Has More Real Estate Policies Prepared In Case Holiday Slumber Doesn't End

Developer sales in January were weak and Spring Festival has shut the industry down in February. 【晚报】中国已做好支持楼市政策储备 春节楼市暂休眠
Shanghai Real Estate Institute released a "typical January 2015 Housing Enterprise Report" shows that in January 2015, including Vanke, Hengda, Poly, the sea, green, Wanda, Country Garden, Shimao, Greentown and financial record, including the top ten housing prices transaction area, the average turnover and turnover performance are unsatisfactory. Among them, the sales amounted to 52.52 billion yuan, a decline of 58.4% mom, down 5% yoy; the average transaction price of 11,727 yuan / square meter, a decline of 15% mom, down 5.3% yoy; closing an area of ​​4.48 million square meters, a decline of 51.1% mom, an increase of 0.3% yoy.

China eyeing measures to ease housing slump
China is preparing measures to counter a housing market slump and will roll them out if the economy needs support, people with knowledge of the matter said.
The government could reduce down-payment requirements for second homes, the people said, declining to be identified as the information is not public. Another step could be letting homeowners sell properties without paying sales tax after two years, down from five years, they added.

...“The government is quite concerned,” Citigroup Inc Hong Kong senior China economist Ding Shuang (丁爽) said by telephone.
While the manufacturing data “shows some rebound, the overall economic downturn is not arrested. The government will carefully monitor the economic data and react,” Ding said.
Implementation of the easing policies would depend on whether an economic downturn continues or worsens, the people said.

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