Just ten days ago, Li Yang, a company executive in Beijing, felt really excited about grabbing an apartment among over 2,000 potential buyers. But now, he is wondering if he should break the contract with the property developer.
Realtors lower price as demand for homes slows
Curbs give a fillip to overseas realty buys
There was a big fall in transaction volume this month for new property projects in Beijing and some developers have even started to lower their prices or offer discounts.
Chinese equities fell on Monday with the benchmark Shanghai Composite Index down 0.47 percent, led by financial and real estate companies.
Chinese equities slid more than 1 percent Thursday, dragged down by banks and property developers.
China's main stock index dived to below 3,000 Monday, led by a slump of property shares on government's tougher efforts to rein in excessive property prices gains.
China's stocks plunged, driving the benchmark index down the most in almost eight months, on concern a government crackdown on the property market will increase bad loans and damp consumer spending.
Chinese shares plunge to below 3,000 points
Beijing's high-end apartments show signs of warming-up in the first quarter after the gloom of the last year, evidenced by climbing sales prices and rents, major real estate service providers say.
The latest central government measures to cool the property market have caused many prospective buyers in China's business hub to adopt a wait-and-see attitude.
Rules are tightened for house purchase
Share prices slumped Friday as market sentiment was also hurt by news that the central government unveiled fresh measures on Thursday to curb speculative demand on the real estate market in a bid to prevent a property bubble from forming.
China's second-tier and third-tier cities may generate higher returns given the high level of house prices in its biggest cities.
20 new urban rising stars
Local sales of apartments at the Beijing Spring Real Estate Trade Fair are down by 30 percent compared with last year's event due to low supply, property agencies said.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 20100000002731 
