Experts: Property market to be stable in H2

Statistics show that the number of homes sold in the southern city of Guangzhou fell by just over 3 per cent in August compared with July. A total of 6,445 homes changed hands.

A tightening of credit is thought to be to blame. But experts say they expect the property market in the second half of the year to be stable.

Li Wenjiang, Senior Market Analyst said "I think the property market in the second half of the year is quite stable. In other words, the housing price will stay at around 9-thousand yuan per square meter and will not rise above 10-thousand. If the price is too high, the government will probably issue some macro-control policies again, so nobody expects a price surge."