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Bankers optimistic about second-tier cities’ housing market

chinadaily.com.cn | Updated: 2017-12-25 16:45
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A saleswoman introduces a property project in Wuhan, Hubei province. [Photo/VCG]

Nearly 90 percent of Chinese bankers surveyed predicted the housing sales and price of the second-tier cities to rise or level off in the coming year, according to a recent report.

The report, released on Friday by China Banking Association and the accounting and auditing firm Pricewaterhouse Coopers, is based on valid questionnaires from 1,920 bankers.

As for the first-tire cities, more than 70 percent of bankers hold the sales of houses will rise or level off, and more than 80 percent of bankers estimate housing prices will rise or level off, down from the proportions of 90 percent and 92 percent last year.

The report said, due to the market saturation and purchase control measures in the first-tier cities such as Beijing, Shanghai and Shenzhen, the demand for purchasing has in part shifted to the second-tier cities.

For the third-tier and fourth-tier cities, more than 70 percent bankers believe that the housing sales and price will go up or at least level off next year, rising from 51 percent and 57 percent in last year respectively.

The fast growing urban clusters will gear up the third-tier and forth-tier cities for robust development, the report said.

The survey also found that overall the banking industry shows less interest in extending loans to the housing market, as more than 11 percent of bankers chose to loan real estate sector, down from about 18 percent in 2016, and 49 percent of bankers would tighten real estate loans, up from 42 percent in last year.

Hu Xinyi contributed to the story.

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