[photopress:apartments_China.jpg,full,alignright]Only one-fifth of the 2,582 people polled by China Youth Daily’s social research centre, sina.com and ePanel Marketing Research & Consulting were confident that the government’s steps to control the marekt would check the ever-increasing trend. A similar similar survey conducted only two years ago showed that then 60% of those surveryed thought it would be held in check.
The poll results showed another significant change: instead of blaming real estate investors for raising the prices to earn huge profits, as respondents had done two years ago, more people now blame the government. They said local governments lack the tools to carry out the measures.
Bao Zonghua, president of China Real Estate And Housing Research Association said the rising demand and the concurrent raising of prices by investors are to blame ‘and the macro-control measures need time to take effect.’
80% of the respondents believe that real estate prices will continue to rise this year, and 30% fear it will do so at a greater pace. In contrast, only 13% think prices would fall.
Property prices in 70 large cities last month rose at an average rate of 5.4% year on year, a National Development and Reform Commission report showed. Prices in Beijing, in fact, jumped 10.4% year on year, the second fastest growth among the 70 cities.
Source: China Daily