[photopress:no_to_buying_property.JPG,full,alignright]A recent China Daily survey seemed to suggest that many people in China, as far as property is concerned, are saying, ‘No, we’re not gong to take it any more.’ This is simply because property prices in China have gone out of kilter with the general economy despite government measures to cool the market. The majority of respondents to the survey said they will not buy property while the prices spiral, seemingly out of control.
The recent survey by the website China Daily showed that:
685, or 54.17% of the 1,266 respondents, said they would not purchase property now.
373 or 29.46% indicated they still want to buy.
The rest gave no comment.
Property prices in China’s 70 large- and medium-sized cities jumped by 6.4% year-on-year in May, faster than the 5.4% growth in April, despite government efforts to bring prices under some sort of control.
Five cities saw a double-digit growth in prices for new homes with Shenzhen leading with a 12.3% rise. Beijing prices rose 10.3%.
The majority of people choosing to not buy houses currently said they simply could not afford the high prices.
One respondent, living in Beijing, said, ‘The price is unreasonable. The monthly salaries for my wife and I are around 10,000 yuan together, and the average prices for commercial apartments on the Fourth Ring Road has exceeded our total income.’
Source: China View