25-04-2014, 09:25 PM
Property market in China remains resilience...
China’s property loans climb in Q1
BEIJING - Bank loans to Chinese home buyers and developers rose sharply in the first quarter of 2014, Reuters calculations from central bank data showed on Friday, even as the property market has shown signs of cooling.
Chinese banks lent 797 billion yuan (S$160 billion) to home buyers and developers in the first three months of 2014, up from 440 billion yuan in the fourth quarter and 12 per cent higher than the same period a year earlier.
Strong demand for property loans suggests China’s housing market remains resilient even if growth is cooling. Official data showed home price gains slowed to an eight-month low in March.
Total outstanding property loans issued hit 15.4 trillion yuan at the end of March, up 19 per cent from a year ago, though down a touch from annual growth of 19.1 per cent at the end of December, the central bank said.
Outstanding mortgages at the end of March were up 20.1 per cent from a year ago, also down a shade from December’s annual 21 per cent rise, it said.
China’s property market has lost steam since late 2013 as authorities tightened controls on speculative buying, and as banks made it harder for home buyers and small developers to get loans.
Some analysts worry that a rapid cooling in China’s property market, one of the few strong spots in the world’s second-largest economy, may threaten Beijing’s plans to manage a gentle slowdown in its economy. - REUTERS
http://www.todayonline.com/business/chin...s-climb-q1
China’s property loans climb in Q1
BEIJING - Bank loans to Chinese home buyers and developers rose sharply in the first quarter of 2014, Reuters calculations from central bank data showed on Friday, even as the property market has shown signs of cooling.
Chinese banks lent 797 billion yuan (S$160 billion) to home buyers and developers in the first three months of 2014, up from 440 billion yuan in the fourth quarter and 12 per cent higher than the same period a year earlier.
Strong demand for property loans suggests China’s housing market remains resilient even if growth is cooling. Official data showed home price gains slowed to an eight-month low in March.
Total outstanding property loans issued hit 15.4 trillion yuan at the end of March, up 19 per cent from a year ago, though down a touch from annual growth of 19.1 per cent at the end of December, the central bank said.
Outstanding mortgages at the end of March were up 20.1 per cent from a year ago, also down a shade from December’s annual 21 per cent rise, it said.
China’s property market has lost steam since late 2013 as authorities tightened controls on speculative buying, and as banks made it harder for home buyers and small developers to get loans.
Some analysts worry that a rapid cooling in China’s property market, one of the few strong spots in the world’s second-largest economy, may threaten Beijing’s plans to manage a gentle slowdown in its economy. - REUTERS
http://www.todayonline.com/business/chin...s-climb-q1