China - Dateline : Recent


Storyline:
First-tier Chinese cities' housing markets regaining vitality

[Voice_over]

Real estate agencies in China's first-tier cities are seeing more interested customers lately after new policies were rolled out last month to stimulate the country's housing market.

In major cities like south China's Shenzhen City, the minimum down payment ratios for individuals' commercial housing mortgages and the floor level of interest rates were lowered.

This has resulted in a nearly four percent increase in new home sales in the city, and a nearly three percent increase in pre-owned home sales from mid-May to mid-June.

[Sound_bite]

Guo Fengmin, Employee, real estate agency：

"The transaction ratio of resale homes at prices around 410,000 U.S. dollars has notably risen. In May, the figure rose by 2.4 percent month on month."

[Voice_over]

In Beijing, a similar sentiment.

Real estate agents in the capital city say they're seeing more customer confidence since the stimulus measures started.

[Sound_bite]

Zhou Lin, Real estate agent：

"In June, I have been receiving twice the number of customers as in May. I can feel their enthusiasm, and it seems like people are eager to begin the process and are making decisions in a shorter amount of time."

[Voice_over]

According to the Beijing Municipal Commission of Housing and Urban-Rural Development, 3,146 newly built residential units were sold in Beijing between May 17th and June 17th.

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