Home sales growth saw a slow-down during the first two months of 2018, following sustained efforts by the central government to limit runaway prices in the market.
According to calculations by Bloomberg based on official data released yesterday, home sales by value rose 16% y/y to RMB 1.06 trillion ($168 billion) in January and February collectively, down from 21% y/y growth experienced in December.
Central government has been intent on curbing property speculation and runaway prices over the past two years, with such sentiments being repeated at the ongoing National People’s Congress in Beijing. Suggestions have been made about introducing a property tax bill, as well as measures to reduce household debt.