Beijing residential property prices reportedly easing double digit %

Discussion in 'Economics' started by ASusilovic, Apr 29, 2010.

  1. HONG KONG (MarketWatch) -- Residential real-estate prices in some neighborhoods in Beijing appear to be easing by double digits in percentage terms since the government introduced stricter regulations to deter speculation, according to local media reports.

    Apartment prices in Beijing's Tongzhou district have dropped 13% to 18,500 yuan ($2,710) per square meter, from 21,500 yuan per square meter before the central government announced tighter mortgage-lending requirements on April 15, according to a report Wednesday by the Beijing Times, which cited data by Beijing Centaline Property.

    The news comes a day after reports that China plans to tighten the ability of property developers to raise capital through share sales, the latest move to cool real-estate prices.

    Are you already short Chinese developers ? :)