What's the buzz

Updated: 2011-11-21 08:01

(China Daily)

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Nearly half of China's 70 major cities saw declines in new house prices from September, said the National Bureau of Statistics. Experts also say China's housing market has reached a turning point and property prices are now declining across the country. China Daily mobile news readers share their views:

Though the house price in Beijing has dropped by 10 to 15 percent, it has exerted almost no influence on would-be buyers, as it is still an out-of-reach dream for wage earners to buy their own house, because of inflation. The fall in house prices is still far from enough.

LINSHUO, Beijing

House prices in Chengdu have indeed declined, but most are houses in the suburbs. The houses in high-profile locations are still beyond reach. Though some communities near the Second Ring Road have advertised new houses with an attractive average price of 5,800-yuan ($914) a square meter, this actually comes from the combination of a high price and preferential policies, such as a discount. Besides, since the increasing mortgage interest rate has put more pressure on loan borrowers, it is still difficult to buy one's own house.


Chengdu, Sichuan province

Now new buildings within the Third Ring Road in Xi'an have almost sold out. Both downtown and suburban areas are full of newly built or rebuilt houses. Due to the demand, the decline in house prices is almost insignificant. But the public will feel satisfied as long as they remain stable.


Xi'an, Shaanxi province

At present, Nanjing is witnessing a drop in house prices and many major new property developers have begun reducing prices. The number of new houses in Nanjing is more than 50,000, approaching the historical record of 53,000 in 2009. With real estate developers facing problems getting funds, the fall in house prices will become more obvious.


Nanjing, Jiangsu province

The developer Vanke's new buildings in Pudong all sold immediately after their release due to the sharply decreased price. In fact, since the current house prices are still inflated, I think property developers will continue to reduce their prices. But the drop will only be to a certain extent because of the demand.

LILY, Shanghai

The average house price in Jincheng now is about 4,000 yuan ($630) per square meter with no obvious signs that it will decrease. As China's population grows larger and people's incomes increase, I will be satisfied if house prices do not rise too much. I do not have much hope they will drop.

GUIXIANGDEYE, Jincheng, Shanxi province

Different developers in Guangzhou have all introduced a wide range of preferential offers now, but, generally speaking, the houses selling at a reduced price are either in the outskirts or have poor transport links. Though the volume of sales in old areas has tumbled, the price is still too high for ordinary people to afford. Meanwhile, Guangzhou's recent land auction has been frozen with the shutdown of 32 pieces in half a month. Perhaps the "winter" for real estate is coming.


Guangzhou, Guangdong province

About 70 percent of the new houses sold at 5,800 yuan ($914) per square meter in Hexi new district were sold the very first day they came on the market, which has excited people planning to buy a house. I believe it will be no problem for me to have my own house one day.

Reader, Nanjing, Jiangsu province

(China Daily 11/21/2011 page9)