Academy of Social Sciences: Beijing property prices fell by 4%
Chinese Academy of Social Sciences, the latest report, in May the mainland hot spot prices continued to fall overall prices, Beijing housing prices fell 4.09% on a monthly basis, but some city prices rose monthly is still high.
With Beijing and other first-tier cities mortgage interest rates rise, experts believe that the mortgage interest rates rally or spread to the country, to curb this round of real prices of real killers.
Chinese Academy of Social Sciences Research Institute of Finance and Economics, Academy of Social Sciences City and Competitiveness Research Center released in May, “the housing market development monthly analysis report” shows that hot areas have been hastily effective control, last month, hot city prices rose overall, The average monthly increase in the city fell to 1.11%, down 1.2 percentage points over the previous month.
Central Beijing fell significantly down Langfang 8%
Among them, Beijing housing prices fell first month by month, down 4.09%. Central Beijing housing prices also showed significant decline, Langfang fell 8% on a monthly basis, Tianjin fell 1.97%, into the new stage of the price squeeze bubble.
While the Beijing area of housing prices also fell, which Xicheng District fell 8.43%, Haidian fell 7.45%, but there are only minor adjustments in the region, such as Beijing’s Tongzhou District, fell only 0.01% monthly, which with the district to implement double purchase Policy related.
However, there are rising trend in the property market, last month, Chongqing, Guangzhou, Qingdao, Chengdu, Jinan and other cities housing prices rose still high, growing at 5.48%, 5.39%, 5.02%, 3.87%, 3.45% Top five.
Year-on-year, the average sample city in May rose 38.45%, down 1.85 percentage points from the previous month. Among them, Shijiazhuang, Tianjin, Langfang, Xiamen and Jinan, respectively, with 79.6%, 75.57%, 72.97%, 64.78%, 60.88% year-on-year increase in the top five.
The report is expected, with the tightening of funds and local government demand for housing investment control, in the short term, most city housing prices rallied or suppressed, and before housing prices rose too fast, the larger cities such as Beijing and other housing prices will continue to fall , But the pressure of rising house prices in the future still exists.
Report recommendations to further stabilize housing prices, short-term hot cities should be tightened to purchase, limit loans and other demand control policies. Long-term through urban development, and gradually ease the imbalance of housing supply and demand in large cities.
May mortgage interest rate averaged 4.73%
In addition, the recent first-tier cities have raised mortgage rates, “financial 360 monitoring” data show that in May the first suite housing mortgage loans the average interest rate of 4.73%, up 4.64% on a monthly basis.
Which Beijing is full-rate increase in mortgage interest rates. Beijing last week came the first set of housing mortgage interest rates raised to the benchmark interest rate (4.9%) 1.1 times, or 5.39%; two suites increased to 5.88%. This is also the fifth time this year, Beijing raised the first set of housing mortgage interest rates.
Former Chinese Academy of Social Sciences Institute of Finance Financial Development Director, is now Qingdao University School of Economics Professor Yi Xianrong estimated that other first-tier cities may follow Beijing to raise interest rates, the future is more likely to spread to second and third tier cities and the country. He believes that the mortgage on the impact of the property market and the impact will not be sudden, but it will be to curb this round of real estate prices rise real killers, the national real estate market adjustment may really start from this.