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More consumers expect housing prices to drop

08-13-2010 08:47 BJT

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The NBS and Nielsen survey also found that in the second quarter, consumers in major cities expecting property prices to fall outnumbered those anticipating a further rise.

In the first tier cities, 41 percent of consumers expect the prices to decline over the next 12 months, while 36 percent envisage an upward trend. That's a 24 point decrease from last quarter. In the meantime, consumers' willingness to purchase a house is on the rise, but less preferred to renting an apartment.

Experts say increasing rental costs, as well as a series of government efforts to cool the property sector, both affected consumer choices.

Pan Jiancheng, Deputy Director of China Economic Monitoring Center, NBS said "The figures indicate that in the first tier cities, most consumers expect property prices to drop. This also shows that the recent government tightening policies on the property market have had impacts on urban consumers."

Editor:Xiong Qu |Source: CNTV.CN

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