Floor space transactions in the 35 cities monitored by China Index Academy went up last week (June 21 -27), the Shanghai Securities News reported Tuesday, citing a weekly report from the academy.
The property boom in China isn't a bubble because it is supported by "solid" demand for residential housing.
While portions of the real estate market such as high-end apartments are overheating, demand for residential homes will remain robust as rural Chinese migrate to bigger cities.
This property has not overheated and the demand for this property is very, very solid.
Lease prices for middle- and high-end apartments and houses increased more than 20 percent over last year.
Analysts warned that high housing prices in Shenzhen would discourage highly skilled staff from working in Shenzhen.
China's banking regulator said it sees growing credit risks in the nation's real-estate industry and warned of increasing pressure from non-performing loans. CBRC: Some banks trying to circumvent capital requirements
Some banks in China have transferred loans off their balance sheets in an effort to circumvent regulatory requirements and capital and loan-loss provisioning, the China Banking Regulatory Commission (CBRC) said Tuesday.
Rental housing costs in Beijing are rising, partly due to prospective home buyers suspending purchase plans and continuing to rent.
Officials from the land and housing management bureau in South China's Guangzhou city said on Sunday they will further increase the supply of low-rent housing to meet the demand of middle- and low-income residents.
Chinese officials and banks must clean up their financing of local government-backed investment units under rules unveiled on Sunday, even as a top government think-tank expert said the overall situation is "far from dangerous".
China's State Council, the cabinet, ordered local governments on Sunday to better manage investment agencies amid concern that their borrowings, estimated at hundreds of billions of yuan, could cause problems for Chinese banks.
The recent fall in trading volume and slower growth in prices was largely a result of the measures the government had rolled out since April, and the rising trend in China's home prices has been curbed initially.
China's Poly Real Estate Group, the country's second largest property developer by market value, said Friday its contracted sales revenue totaled 15.41 billion yuan ($2.26 billion) in the first five months, up 4.75 percent year-on-year.
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