[photopress:ascottchina_the_ascott_beijing.jpg,full,alignright]The Development Research Center of the State Council has stated that the growth of investment in the real estate sector is forecast to fall to around 20 percent year-on-year for the second half, compared with 24.2 pct in the first half.
The think tank said in a report published in the China Economic Times that with the government’s increasing curbs on speculative investment and higher supply of affordable residential property, housing prices will level off. The report proposed that the government continue to implement macro-controls over the real estate sector and tighten credit to developers.
Property prices in China’s 70 major cities increased 5.5 percent year-on-year in the third quarter, the National Development and Reform Commission (NDRC) said last month.
Source: Forbes