Shanghai’s real estate in 'most risky' list

Updated 2016-12-01 11:04:37 Shanghai Daily

Shenzhen, Xiamen and Shanghai top the "most risky" list of 35 large and medium-sized Chinese cities whose real estate markets are said to be inflated, the Chinese Academy of Social Sciences said in an annual report yesterday.

Beijing, Nanjing, Tianjin, Zhengzhou, Hefei, Shijiazhuang and Fuzhou are also among the top-10 list, said a report released jointly by the National Academy of Economic Strategy of CASS and the City and Competitiveness Research Center of CASS, which track risks in the country's housing market.

"The domestic housing market will in general cool and stabilize in 2017 accompanied by a new round of short-term correction," said Ni Pengfei, director of the City and Competitiveness Research Center of CASS. "The correction may last for about one year, and we will probably see diversified and polarized performances among the cities."

Housing prices in China will climb more slowly on average next year, with first-tier and selected second-tier cities where prices have grown fastest likely to suffer larger setbacks, the annual report said. Third and fourth-tier cities are seen to have contrasting performances.

The report also sees a rather significant drop in transactions next year while investment in real estate development is likely to slow in 2017 from this year.

The overall inventory of new homes will continue to drop with destocking pressure in third and fourth-tier cities remaining high, the report said.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58October 17 2017 19:39:13

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16October 17 2017 19:39:13

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18October 17 2017 19:39:13

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords