World Business NewsA round up of the latest news for those doing business internationally
S&P forecasts Chinese property prices will fall as market cools
Zone(s): China ¦ Sector(s): Property, Economy
The predicted decline marks a significant correction from the 11.5 per cent increase in prices in 2013, with prices in some top tier cities rising over 20 per cent last year.
National sales so far this year were described by S&P’s analysts as “dismal”. Year-on-year residential property sales declined 10 per cent in the first three months of 2014, compared to growth of 26.6 per cent in 2013.