.contact us |.about us
HomeBizChinaMetrolifeDragon KidsForum

Highlights ... ...
Search:
    Advertisement
House buyers not hurt by RMB revaluation
( 2005-08-04 06:04) (China Daily)

Ordinary housing consumers in China do not need to worry about the sizeable real estate price fluctuation caused by the recent renminbi appreciation.

However, investors in luxurious housing or high-end commercial buildings will have to be cautious when making their investments because experts say it will be hard for them to take advantage of the currency revaluation and gain quick profits on short-term investments.

The yuan revaluation will not have any negative impact on the ordinary residential housing market, said Pan Shiyi, a renowned real estate developer.

This is because raw materials for this type of property are mainly from the mainland and the house buyers are almost all domestic residents, he explained.

Meanwhile, the yuan raise would help reduce some building costs because the price of some imported building materials, such as steel, will be reduced, said Wang Chen, a senior analyst at DTZ Debenham Tie Leung (DTZ), a leading real estate consulting company.

About one-fifth of China's steel is swallowed up by real estate projects, and last year China imported 29.3 million tons of steel.

Pan also said after the government's announcement of the currency appreciation, many foreign property fund managers came to him to discuss investments in big cities like Beijing and Shanghai,

"What these foreign funds are interested in are luxurious houses, high-end office buildings and shopping complexes," Pan said.

However, China's foreign exchange reforms and the recently completed real estate macro-management makeover make it very hard for international property speculators to get quick short-term gains on investment, said Wang Lina, a finance professor at Chinese Academy of Social Sciences.

The 2 per cent rise will not add much value to houses, and any added value will be offset by increased tax. This higher stamp duty was introduced at the beginning of June, and was set at 5 per cent of the total selling income for houses owned for less than two years, the professor said.

Moreover, the market is currently not particularly active, especially in Shanghai and other eastern cities, after the government launched a slew of measures to cool down the runaway property market.

Most potential buyers are waiting to see any new market shifts, with very few choosing to buy houses at the moment.

It is hard for the short-term investors to find enough buyers to sell their houses at good prices, said Gu Yunchang, chairman of the Real Estate Association of China.

As a result of the sluggish market, it is less likely that the "hot money" imbedded in China's real estate market will withdraw from the domestic market at the moment, the chairman said.

The government's cooling measures would also exert pressure on future "hot money" seeking to enter into Chinese property market, professor Wang said.

The professor explained that China had just abandoned its peg to the US dollar and moved to a managed floating-rate regime based on market supply and demand with reference to a basket of currencies.

The new system will bring many uncertainties to the exchange rate, making it more complicated for foreign investors to make a big profit on China's real estate sector, Wang said.

On the other hand, foreign investors stand a good chance of earning a handsome profit in China's property market if they choose long-term investments such as providing financing for domestic property developers, said Wang Chen at DTZ.

This would help strengthen domestic developers and maintain the stability of the real estate market, the analyst said.

   
Close  
  Go to Another Section  
     
 
 
     
  Article Tools  
     
  E-Mail This Article
Print Friendly Format
 
     
   
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved  
主站蜘蛛池模板: 英国性经典xxxx| 亚洲另类欧美综合久久图片区| 中文字幕无码免费久久9一区9| 亚洲精品亚洲人成人网| √天堂资源最新版中文种子| 欧美性极品hd高清视频| 免费A级毛片无码A∨男男| 国产人与动zozo| 无码一区二区三区免费| 免费日韩在线视频| 91欧美在线视频| 国产精品国产色综合色| 三年片在线影院| 欧洲肉欲K8播放毛片| 内射一区二区精品视频在线观看| 99久无码中文字幕一本久道| 成人欧美一区二区三区黑人| 亚洲第一成年人网站| 精品久久中文字幕| 国产凸凹视频一区二区| 99久久综合给久久精品| 婷婷色香五月综合激激情| 中国老人倣爱视频| 杨钰莹欲乱小说| 人妻av无码一区二区三区| 日本福利视频导航| 天天躁日日躁狠狠久久| 久久亚洲精品无码| 欧美日韩精品一区二区在线播放| 国产免费AV片在线观看播放| 中文字幕免费在线看线人| 国产精品无码素人福利| 一本之道高清在线| 日韩欧国产精品一区综合无码| 全部在线播放免费毛片| 91精品免费看| 国产白丝在线观看| 99r精品在线| 成人免费视频网| 久久无码人妻一区二区三区午夜| 欧美牲交a欧美牲交aⅴ免费真|