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China Daily Website

Property prices rise in March

Updated: 2013-04-19 01:48
By Hu Yuanyuan ( China Daily)

William Kwok, director of Cheung Kong Real Estate Ltd, said the government's latest round of tightening measures have had an impact on the new housing market.

The company will put 100 villas in Beijing's Shunyi district on sale around the end of April, offering fewer discounts this time, according to Kwok.

"In that case, our sales price may increase 3 to 5 percent compared with previous sales we launched in October," said Kwok. "And our sales revenue this year is expected to exceed 3 billion yuan, the highest for the past three years."

Richard Ho, head of National Real Estate Industry with Deloitte China, said prices will rise, but only moderately, in the coming month, as a reflection of government policies.

"The property market is on the way to recovery in terms of prices and sales, but investment, new construction and land markets remain cautious and inactive," Ho wrote in a report published on Thursday.

Gary Fung, a tax partner with Deloitte China, said: "It's unlikely that the Chinese government will throw down the gauntlet and not control property prices. But at the same time, policies do not seem to have been substantively tightened."

Gao Changxin in Hong Kong contributed to this story.

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