China's Property Market Is Riding Out Wobbles Successfully
Property Report|June - July 2019

To be (optimistic) or not to be: that is the question, as a somewhat opaque property picture leaves China-watchers grasping at recent slight signs of good news.

Steve Finch
China's Property Market Is Riding Out Wobbles Successfully

The data has been confusing to say the least. In February, new home prices in China climbed 10.4 percent compared to the same month last year—impressive by any standard. A closer look, however, would reveal that last year was a disaster for residential sales, meaning the base was rock bottom, and growth this February ranked the slowest—month-on-month—in nearly a year.

The picture could not be muddier. China’s property rollercoaster has left analysts clutching at every new data point and policy announcement out of Beijing: can the country’s real estate sector—and wider economy—ride out what looks to be an unavoidable economic storm?

Signs appear mixed, and so does reporting. When Beijing’s macroeconomic planning agency the National Reform and Development Council announced in April the easing of restrictions on hukou cards—a type of internal passport—some international media reported the measure akin to a new government stimulus for the floundering property market.

The move was nothing of the sort, both in terms of Beijing’s motivations and likely impact. On one hand, it would allow rural migrants to obtain hukou cards in cities where they work and buy property when they could not before.

But according to Andrew Polk, co-founder and partner of Trivium—a Beijing-based research firm on policy and economy in China—the measure, rather than short-term stimulus, represents long-term policy aimed at incentivizing urbanisation in the forgotten cities of China, which register millions of residents but have seen many thousands leave for big hubs with the best jobs like Beijing, Shanghai and Shenzhen.

Diese Geschichte stammt aus der June - July 2019-Ausgabe von Property Report.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

Diese Geschichte stammt aus der June - July 2019-Ausgabe von Property Report.

Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.

WEITERE ARTIKEL AUS PROPERTY REPORTAlle anzeigen
Singapore Starts To Swings
Property Report

Singapore Starts To Swings

Generous stimulus has saved the Lion City’s economy from disaster, and a percolating post-pandemic boom looks set to send the residential sector into overdrive

time-read
8 Minuten  |
August - September 2021
Natural Highs
Property Report

Natural Highs

With people seeking safe ways of re-engaging with the outside world, the pandemic has steered investment in key ski markets back on-piste

time-read
5 Minuten  |
August - September 2021
It's In Hua Hin
Property Report

It's In Hua Hin

A long-time favorite of Thai royalty and weekenders travelling from Bangkok, the famous beach town is adding some alluring new strings to its bow

time-read
3 Minuten  |
August - September 2021
Blues In The Blood
Property Report

Blues In The Blood

As China’s cities explode, its built heritage is often neglected. Hangzhou-based Bluetown Architects aims to redress that balance through its striking but functional work

time-read
6 Minuten  |
August - September 2021
Little Joy Soldiers
Property Report

Little Joy Soldiers

Real estate sales offices are reopening in Yangon, but banking problems, low confidence and oversupply mean a bleak outlook as the army seeks to entrench rule

time-read
4 Minuten  |
August - September 2021
Youth Movement
Property Report

Youth Movement

Young members of a storied family shift property development in Cebu forward with a smart, green commercial tower, rising tall above an heirloom estate

time-read
7 Minuten  |
August - September 2021
Gift From Above
Property Report

Gift From Above

Source Global is tapping into a renewable source— the sky—to supply drinking water to residential communities and commercial properties in Asia

time-read
6 Minuten  |
August - September 2021
Proptech Is Enhancing Efficiency And Human Experience
Property Report

Proptech Is Enhancing Efficiency And Human Experience

The pandemic has forced the real estate industry into a more meaningful embrace with technology after years of flirting with innovation

time-read
8 Minuten  |
August - September 2021
Legacy Of Handy, Individualistic Inventions
Property Report

Legacy Of Handy, Individualistic Inventions

The global crisis has caused unprecedented pain, but its extraordinary nature has seen it spawn a legacy of handy, individualistic inventions

time-read
1 min  |
August - September 2021
Wave Of Mutilation
Property Report

Wave Of Mutilation

Lockdown disruption, evolving working conditions and an exodus by offshore gaming operators have sent the vital office space sector in the Philippines into freefall

time-read
7 Minuten  |
August - September 2021