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��Home>>Business
Chinese housing market will shift to 2nd- and 3rd-tier cities
www.chinanews.cn 2007-04-29 09:16:32
Chinanews, Beijing, Apr. 29 �C In its recent report, global property
consulting firm Jones Lang Lasalle analyzes the prospect of the real
estate market in China's second- and third-tier cities. In this report,
titled "The 30 New Emerging Cities in China", it predicts that the 30
cities will become a new focus for investors, real estate developers and
lessees and they will indicate the developmental trend in Chinese real
estate market in future, the Beijing Business Today reported.
The five cities of Suzhou, Tianjin, Hangzhou, Chengdu and Dalian are
highly recommended by the report for their robust economic activities.
Although there are still plenty of opportunities in the major Chinese
cities, yet as the housing prices in these cities have continued to soar,
competition has become more intense than before and it will become more
difficult for housing developers to make profits in these cities.
Therefore many housing developers have now shifted their attention to the
emerging new markets where housing prices are still relatively cheap and
it is easier for them to make gains. The booming business, which first
originated in the major Chinese cities of Beijing, Guangzhou, Shanghai,
and Shenzhen, has now moved to some new economically rising cities, said
Kenny Ho, the company's general manager in Shanghai.
The housing demand in these cities has kept increasing day by day. As
market operation in these cities becomes more transparent and there is
more capital liquidity, domestic and international investors are already
paying close attention to these new markets, the report said.
Some second-tier cities, including Nanjing, Wuhan, Chongqing, Qingdao,
Shenyang, Dongguan, Xiamen, and Xi'an, have made fast progress in
developing their local companies and attracting foreign direct investment.
In addition, cities in the third tier, especially Harbin, Fuzhou, Wuxi,
Jinan, Ningbo, Zhengzhou, Changchun and Changsha, are adding input to
improve their city infrastructure to pave the way for their future
economic growth. Their efforts to boost local real estate market have
also started to take effect, according to the report.
��Housing price keep rising despite govt control measures
��NDRC warn against soaring housing price
��Housing price keeps soaring in Beijing
��Shanghai housing price starts to fall
��Housing price in big cities keeps rising
��70% of Beijingers believe housing price will keep rising
��Guangzhou to make effort to lower housing prices
��Premier: China to rein in soaring housing price
��38.8% Beijing housing buyers aged below 30
��Guangdong might impose tax on extra housing owners
��Economists predict housing price to further rise
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