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Fuzhou's housing market remains gloomy
Updated: 2014-04-04

Statistics showed that Fuzhou's housing prices and trade volume in March hit a record since last July. But experts believe the market, which has significant financial risks,remains gloomy, Dnkb.com reported on April 2.

The trade volume of new houses in Fuzhou in March of 2013 increased 90 percent year-on-year to reach 3,250, the highest in three years. Trade volume dropped 52.12 percent this March.

Wang Azhong, head of the real-estate research institution of Fuzhou University, said that the volume increased significantly compared with that of February, but buyers remained cautious. “Apart from Beijing, Tianjin and Tangshan, the housing markets of other cities nationwide remain gloomy,” Wang told the reporter.

Observers said that the reason why home sales surged last March was from stimulation from policies such as the new housing accumulation fund loan. However, month-on-month data increased this March because of poor sales performance in previous months.

Wang said that the normal monthly trade volume was 2,000 to 2,500, which means the market is gloomy now.

Wang also pointed out that the potential risk lies on the financial area. “Money is the driver of real-estate,” he said, adding that the future of the housing market depends on developer cashflow.

By Peng Juan from China Daily Fujian Bureau

Edited by Zhao Qian and Michael Thai