Shijiazhuang China Real Estate

The New York Times published a report on the real estate market in Shijiazhuang, China's second-largest city, and prices have soared since then. In 2017, the average price of a one-bedroom apartment in the city's upscale neighborhoods was nearly CNY28,296 per square foot. As a result, Jinan in eastern Shandong province suffered a decline in average rents of more than 50% in the first quarter of 2019, while average rents rose by almost 40% over the same period, according to a recent report by the China Real Estate Institute of the Chinese Academy of Social Sciences (CSE). In Beijing, average rents for high-end apartments rose from nearly CNY 2,843 to CYNY1,764 per square meter (sqm) in 2017, according to the latest data from the National Bureau of Statistics (NBS), while average prices for a detached house in Beijing in the second quarter of 2019, at an area of 1.5 million square meters, were almost twice as high on average as in the third quarter of 2019.

Local governments in lower-lying cities are also beginning to introduce new home purchase controls and other measures to comply with uneased regulations and property management goals. In September 2017, Shijiazhuang, the second largest city in eastern Shandong Province, reportedly imposed a series of new house purchase control measures, most of which prohibit resale within two to three years of purchase. It has announced similar measures in other cities to curb speculative housing purchases.

The latest measures would have a negative impact on the real estate market in Shijiazhuang, especially on homes, said Yang Zhiqiang, an analyst at the China Real Estate Research Institute. Yang estimates that as long as "real estate remains a major investment target for the public, home prices will continue to rise in hot markets in the short term, with the sales rate of residential space higher than in other parts of the country, such as Guangdong and Hubei. When a correction in real estate prices is underway in China, according to Yang, the winners and losers will be determined by the location itself and its location.

Foreigners who have been working or studying in China for at least a year are allowed to buy houses, but individual buyers who have invested in units in the building may lose their investments. The Chinese government has stepped up efforts to ensure that disgruntled home buyers who see their homes depreciate do not jeopardize social stability.

Shijiazhuang is one of China's most overvalued and crowded housing markets, which probably makes it the best place to get great bargains.

If you decide to freeze spending on commercial property, you have to have a good reason for doing so, says Nicholas Zhu of ANZ Bank in Shanghai. If you decide to freeze spending on commercial real estate, Shijiazhuang, China's second-largest city, has great potential as an investment destination for high-quality residential and commercial real estate, he says. But if you decide to freeze spending on commercial real estate - Shanghai, the country's third-largest city with a large - contemporary - housing market - has an excellent chance of succeeding in terms of investment opportunities for low-cost commercial and residential real estate.

Beyond concerns about a future labor shortage, the Chinese government has another reason to discourage investment in commercial real estate in the country's second-largest city. To prevent land speculation, it has a policy that allows property developers who successfully bid for a plot to have a limited window of time in which to build.

An employee of a construction company told China Real Estate Business that the government had given the green light. "The government has given us the red light," a construction company employee told ChinaReal Estate. An employee of a development company in Shijiazhuang, China's second-largest city, told the Japan Times that "the government gave them the blue light" to build an apartment building on a plot of land in the central Shiyuan business district on July 14, 2016. An employee of the construction company China Real Estate told the Japan Times that they "gave us the green light," while an employee of a construction company gave the India Times the green light.

While Guangzhou, Foshan and Dongguan in Guangdong Province have taken steps to curb home price growth, buyers have gone to nearby Shaoguan to buy real estate. According to a report by China's central bank, the People's Bank of China (PBOC), Chinese homebuyers have used more credit to buy homes in the past two years. In response to the IMF's earlier demand, he said China would try to control credit growth. We will do the same by lowering the price of apartments and adding more information to guide buyers, "he said.

One of China's most closely watched regions, Beijing and surrounding areas have seen rapid home price growth over the past two years, with units sold in 2016 at an average price of more than 3,000 yuan per square meter, the source said.

More About Shijiazhuang

More About Shijiazhuang