{"id":25853,"date":"2016-09-12T19:26:16","date_gmt":"2016-09-12T12:26:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-residential-market-to-stay-strong-in-2017-says-citigroup\/"},"modified":"2016-09-12T19:34:33","modified_gmt":"2016-09-12T12:34:33","slug":"chinas-residential-market-to-stay-strong-in-2017-says-citigroup","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-residential-market-to-stay-strong-in-2017-says-citigroup\/","title":{"rendered":"China\u2019s residential market to stay strong in 2017, says Citigroup"},"content":{"rendered":"


\nDon\u2019t expect any tightening in liquidity, assures leading property research analyst
\nShanghai lights. iakov kalinin\/Shutterstock
\nChina\u2019s housing market will remain strong next year according to Citigroup, despite reaching new highs in 2016 with the central government making moves to maintain market sentiment while clearing oversupply in smaller cities.
\n\u201cUnsold stock will only be cut if home prices keep rising, so there\u2019s no doubt the physical market will keep thriving in 2017,\u201d said head of Asia-Pacific property at Citi Research Oscar Choi, reports South China Morning Post.
\nProperty sales nationwide have increased by a record 40 percent so far this year, with land and home prices in the mainland\u2019s first and second tier cities, such as Shanghai and Shenzhen scaling new heights.
\nMore: What will Shanghai look like in 2040?
\nThis led to speculation that liquidity in the market may soon be tightened to control the increases, but Choi rejects any chance of this. He said: \u201cWhat I have seen is five or six banks sometimes chasing one developer to offer it financing services, after land purchases. That won\u2019t happen if they receive any internal guidance from the central bank.\u201d
\nHome prices in Shanghai have jumped 34 percent in the past year. Speculation over government plans to impost tightening measures sent property buyers into a panic buying spree in the last week of August, which saw transaction volumes soar by 93 percent.
\nThis was despite Shanghai housing authorities denying the measures.
\nIvan Ko, chairman of China Real Estate Chamber of Commerce Hong Kong and International Chapter, agreed with Citi\u2019s views, saying that Beijing, Shanghai and Shenzhen are all international metropolises, which will remain attractive to global talent and investors, in turn fuellinig the housing market.
\nHe added that despite home prices being high, he feels they are reasonable.
\nRead next: How China\u2019s luxury homes are proud to be Chinese again
\n
\nSource : property-report.com
\nRead more…China\u2019s residential market to stay strong in 2017, says Citigroup<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Don\u2019t expect any tightening in liquidity, assures leading property research analyst Shanghai lights. iakov kalinin\/Shutterstock...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-25853","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6IZ","jetpack-related-posts":[{"id":63630,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/citi-hit-with-us1-6m-fine-in-shanghai-for-violated-mortgage-lending-rules-and-slack-credit-card-issuance\/","url_meta":{"origin":25853,"position":0},"title":"Citi hit with US$1.6m fine in Shanghai for violated mortgage lending rules, and slack credit card issuance","date":"August 14, 2017","format":false,"excerpt":"\r US banking giant Citigroup has been fined 10 million yuan (US$1.6 million) by China\u2019s financial watchdog in Shanghai, accused of violating mortgage lending rules and for showing insufficient care when issuing credit cards. 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