Survey shows most say homes are too ex­pen­sive

China Daily (Canada) - - NEWSCAPSULE -

More than half of Chi­nese sur­veyed said homes were too ex­pen­sive for them, ac­cord­ing to the lat­est na­tional poll by the Peo­ple’s Bank of China (PBOC).

The survey showed that 58.8 per­cent of 20,000 re­spon­dents in 50 ci­ties be­lieve cur­rent home prices were “too high to ac­cept” in the fourth quar­ter, down 0.7 per­cent­age point from the pre­vi­ous quar­ter.

The prop­erty mar­ket cooled in 2014, with au­thor­i­ties loos­en­ing con­trols on pur­chases, mort­gage rules and in­ter­est rates to avoid an even sharper slow­down. Home prices - es­pe­cially in large ci­ties - are still too high for most new grad­u­ates.

In the fourth quar­ter, po­ten­tial “savers” still out­num­bered po­ten­tial “in­vestors” by 44.9 per­cent to 36.4 per­cent, but those who ex­pected to invest more rose by 0.4 per­cent­age point while savers fell 1.1 per­cent­age points re­spec­tively from the pre­vi­ous quar­ter. (Photo 2)

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