China Property Update: Small Positives Today to Become Small Negatives Tomorrow?
A quick check-in on the Chinese property market shows prices continued to rise in April, but apparently at an increasingly slower pace. According to SouFun/China Real Estate Index System, the average property price across 100 cities rose 0.40% in April to CNY 8,773 per square meter. The results compare to 0.59% in March where property prices rose to 8,738 per square meter. The average price per square meter six months ago was 8,418 Yuan, i.e. average prices are now 355 Yuan higher. For a 100 square meter place this would translate to about a 35,500 Yuan (US$5500) increase in the total purchase price.