[photopress:dollar_sign_1.gif,full,alignright]Economic growth and a limited land supply will fuel growth in China’s property prices next year, according to industry experts.
‘China’s property prices will definitely continue growing,’ said Chen Fan, MD of Standard Chartered’s investment arm. ‘China’s urbanization and the galloping forward of the gross domestic product will shore up the property price.’
Property prices in 70 large- and medium-sized cities rose 4.5% in October, 0.1 percentage points higher than September’s growth.
Land supply is a major issue, pushing some property developers to look further afield for projects in cities other than Beijing and Shanghai.
Zhang Xin, CEO of SOHO China, said, ‘We are now considering expansion to Tianjin next year, as the land supply in Beijing diminishes, and the land bidding in Tianjin is more transparent.’
Source: China Daily