Source: CCTV.com

12-01-2008 11:10

Special Report:   House Market under New Policy

Meanwhile, we're seeing much the same picture in Shanghai, Changsha, Qingdao and Nanjing. In fact, these cities could be doing even better than Beijing. They're seeing a strong rise not just in interest, but also in sales.

Shanghai, Changsha, Qingdao and Nanjing are seeing a strong rise in property sales.

After the launch of favorable policies in Qingdao's real estate market, trade volumes have risen substantially.

Wang Yushengm Director of Qingdao City Bureau of Land Resources said "Earlier, the number of deals reached for new and second-hand house totaled about 40 everyday. Now we're seeing deals for new houses hitting more than 30, and that for second hand units climbing to nearly 50."

Meanwhile Nanjing recently raised the upper limit for how much individuals can draw from their housing funds for loans. Individuals can now borrow up to 300 thousand yuan. That move sparked a surge in loans taken out from the public housing fund.

Meanwhile Hunan Province has also rolled out 18 boosting policies for the real estate sector. These include lowering the purchase tax to 1 percent. While trade in second-hand house also comes with its own preferential policies.

One resident of Changsha City said "These new moves can now save me 30 thousand yuan."

And Shanghai is also seeing a renewal of strong interest in the real estate market. In terms of floor area, trade in new houses is up 20 percent from just last month.

 

Editor:Xiong Qu