Cat and House; The Property Market  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 407 no. 8834 (May 2013), page 26.
Topik: Home Ownership; Housing; Property Values; Price Increases; Speculation; Investors; Problems

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.76 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Owning a home is a priority for many people in China. But years of rising house prices have put that dream out of reach of many. A slowing economy appeared to take some of the heat out. Now, alas, the residential property market is soaring again (see chart). A new survey of developers and property firms on May 2nd showed average house prices up more than 5% in April on a year earlier. Taking the long view, rising property values seem defensible. The country is undergoing the largest wave of urbanisation in human history. But even if you accept such long-term arguments, says Alistair Thornton of IHS, a consultancy, the market right now looks increasingly as if it is becoming detached from the fundamentals, as speculators looking for an investment swamp buyers looking for somewhere to live. Many flats sit vacant despite legions of prospective buyers desperately seeking affordable housing. China's new leaders are keenly attuned to such concerns and are trying hard to head off the danger. Clearing up this mess will be difficult, but not impossible. A good start would be to introduce a property tax, imposed annually, that is based on the market value of a home.

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