(Beijing/Hong Kong Comprehensive News) House prices fell in August in major cities in China, and second -hand housing prices hit the largest decline since 2014, showing that the real estate market is still under pressure.Analysts believe that a number of official property market loosening policies may not bring persistence or end the industry crisis.
The latest data released by the National Bureau of Statistics of China on Friday (September 15) shows that the prices of new housing and second -hand housing in various cities across the country have decreased from the previous month.Among them, the largest decline in the price of new houses is first -tier cities, from the flatness of July to a decrease of 0.2%. The price of third -tier cities has decreased by 0.4%, a decrease of 0.1 percentage points, and second -tier cities decreased by 0.2%.In terms of, the decline in first -tier cities was narrowed by 0.6 percentage points to 0.2%, while the decline in second- and third -tier cities was flat, down 0.5%and 0.4%, respectively.
Bloomberg, according to data, the average price of new houses in China fell 0.29%month -on -month, and increased from 0.23%from July. The average price of second -hand houses fell 0.48%month -on -month.The market continues to pressure.
On the other hand, the official Chinese officials have promoted the implementation of the first house's "house recognition of housing and not recognizing loans", canceling purchase restrictions, and reducing stock loan interest rates such as loan in stocks at the end of August.4.8%, reaching 73.86 million square meters.
However, Reuters quoted analysts that the boosting effects of these policies on the property market may not be sustainable, and it is difficult to solve the problem of breach of contract in large real estate companies that cause the property market crisis.
Lu Ziyi, a Chinese economist of Oxford Economic Research Institute, believes that the Chinese property market data may rise slightly in the next few months, but the stimulus policy cannot completely revive the real estate industry.
The International Credit Institution Moody's Thursday (September 14) also outlook the prospects of China's real estate industry from "stability" to "negative".Moody's believes that the impact of Beijing's boost measures will be short -lived, and it is expected that China's real estate sales will fall by about 5%in the next six to 12 months.
