Source: CCTV.com

05-07-2009 13:41

China's property market rebounded in the first quarter with expanding transaction volumes. Developers are taking the opportunity to raise prices. But analysts say the market hasn't stabilize, and higher prices could dampen demand.

China's property market rebounded in the first quarter with expanding transaction volumes.

The just concluded Shenzhen Spring Property Fair saw the effects of higher prices. There were fewer visitors, and most are taking a wait-and-see attitude.

One Shenzhen resident said "I'm considering buying a larger property. The price was around 11 thousand yuan, but now it's over 12 thousand. So I'm still waiting."

Developers say they sold less than 50 of the 200 units. Transactions are down 10 to 20 percent from last year.

Zheng Yinghua, Real Estate Agent said "Home buyers are now more rational. They pay attention to the property's overall conditions, added-value, and investment potential. And they are now more sensitive to price."