Savills Shares Insights About the Latest National Real Estate Data
The property market has continued to tick along in recent months. Pricing and volume growth is slowing in first and second tier cites that have been subject to new restrictions seen in recent months, though sentiment remains upbeat with pricing holding firm.
Strong sales have pushed down unsold inventory levels in some second tier cities to multi-year lows encouraging developers to bid aggressively on new land plots and governments to introduce new regulations – Suzhou and Nanjing just yesterday announced regulations on land sales that would effectively penalise developers bidding too aggressively on land plots. This is in addition to the previous enforcement of a hard cap on accommodation values paid by developers, and land auctions being declared void if prices exceed these ceilings.
Please click here to download Savills' full report and check out the latest Chinese property market figures.
