- CNTV English - CCTV News

Guangzhou to see housing price drop

05-24-2010 16:07 BJT

Watch Video

Play Video

In response to the central government's call to cool down the housing market, the city of Guangzhou has issued its related policies.

The housing market in Guangzhou has seen a drop in transaction volume since the implementation of relevant policies. From April 15th to May 14th, transaction volume has decreased by about 70 percent year-on-year while average prices are down about 7 percent month-on-month.

Wang Wenbo, Deputy Director of Guangzhou Housing Administration Bureau, said, "The central government aims to curb unreasonable demand. Under this background, Guangzhou is also increasing land supply and supply of low-income housing. With demand decreased and supply increased, the housing price will be stabilized."

Guangzhou is also improving its management of price-limited housing. Currently, around 12 thousand families or individuals have applied to buy.

In comparison with Beijing's local housing policies, Guangzhou's version is much milder as it has no tough restrictions on loans for a third property.

Huang Tao, General Manager of Centaline Guangdong Division, said, "I think Guangzhou's housing policies suit the city's situation."

Although housing prices are still hovering at a high level, the up-trend has been curbed. With a much decreased transaction volume, experts predict there will be a price drop.

"Guangzhou's housing prices will fall by 10 percent. A dramatic fall is not likely but price falls are inevitable." Huang said.

Since the end of last year, the central government has issued various housing policies. In response to that, many local governments have unveiled their versions. The housing price up-trend has been effectively curbed.

Editor:Zhang Ning |Source:

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program