City housing prices rise in January

Date Added: February 02, 2010 07:55:55 AM

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Property prices continue to Shenzhen in the early months of 2010, despite the new arrangement of the central limit reduce loans for profit and to control rising prices.

Prices of new homes rose in January from 5.5 percent last month to RMB 23.519 (3.445 USD) per square meter, according to pneumatic control valve official figures. The average price of 22,300 yuan per square meter of new homes in December was already a new record for Shenzhen.

Despite rising prices, left new home sales only from the world of 4300 to 3903 units a month earlier.

Sales of homes owned in the past remain optimistic that 9317 will be the homes sold in January, portable warning light up 97.2 percent from a year earlier but down from 66.5 percent achieved in relation to the monthly state of 27,887 units in December.

The average price of homes sold last month was 12,093 yuan per square meter, almost unchanged from the previous month, much higher than the average about 9,000 yuan per square meter a year ago.

"It's traditionally a slack season for housing sales, and fewer homebuyers visited us at the beginning of January compared with a month ago," said Zhang Sen, an agent with Tongtai Real Estate's Futian branch. "But the number of homebuyers looking to purchase is rising again."

There were rumors that banks are restricting credit to buy a second home to reduce speculative investment, but homebuyers can still pay only 20 percent of deposits and loans easier to obtain, where liens have been paid, he said.

Banks are now more stringent in applying the 40 percent advance rate on second homes and less to offer significant discount rate by Li Li, an agent with Chuanghui Real Estate. But even the homebuyers who wanted a mortgage with the help of brokers who produce actual sale of the property should be maintained, said Mr Lee.

"To prevent a full-blown housing bubble, the Central Government reaffirmed the tightened rules for purchasing second homes early last month," said Gao Haiyan, a researcher in urban development with the Shenzhen Academy of Social Sciences. "But we are worried that the rules have not been strictly followed by speculators, brokers or banks."

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