China Eyes Mild Property Price Fall in 2011
Jan. 4th, 2011 Joycommunications
China's property prices will probably edge down in 2011 as authorities remain committed to squeezing speculators out of the market, mainly via monetary tightening steps, a top government think-tank said yesterday. Developers are expected to cut prices in the first three months to boost sales as their cash flow dries up, the Chinese Academy of Social Sciences (CASS) said in a report, without giving a specific estimate. But policy relaxation by local governments and surging pent-up demand may push up prices in the third quarter, which will eventually trigger a new round of tightening, it added.
Source:
Reuters