Expert: China has no shortage of houses from the total quantity

By | June 5, 2013

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Chief economist of Industrial Bank, Lu Zhengwei said that China’s real estate bubble problem has become very serious, the future price trend is mainly affected by several factors including the supply and demand in the property market. The National Bureau of Statistics data showed that last year the urban per capita living area was ​​34 square meters, compared to 37 square meters in rural areas, thus there was no much difference between urban and rural areas. He pointed out that this meant that from the total, China’s cities have no shortage of housing. Meanwhile, since last year China’s labor population began to decrease, which means that the future demand for real estate will not be expanded further.

He said that China has implemented real property registration system, and property tax programs are also under study; in case all these policies coincide with changes in the international environments, the future of the Chinese property market is very dangerous.

Source: 云南信息报

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