New | Survey shows Chinese can afford to pay more for homes
Increasing proportion can budget for properties above 30,000 yuan per square metre, poll finds
To gauge the buying demand of mainland Chinese for domestic and overseas residential property, the South China Morning Post and consultancy Century 21 China Real Estate have partnered on a quarterly sentiment survey.
In the fourth poll, conducted in the fourth quarter in Beijing and Shanghai, 274 Century 21 clients responded, compared with 484 in the third quarter, 565 in the second and 350 in the first.
The latest survey indicated homebuying interest remained unchanged in the fourth quarter from three months earlier, but a higher proportion of respondents said they could afford to buy homes priced above 30,000 yuan (HK$37,400) per square metre.
Most Chinese cities have removed restrictions against multiple home purchases to stimulate demand, but not the first-tier cities of Beijing, Shanghai, Shenzhen and Guangzhou.
Banks have gradually started to offer easier and cheaper mortgage loans after an interest rate cut by the central bank in November, the first in more than two years.
Such policies have drawn homebuyers back into the market, particularly those who want to trade up their small homes for bigger ones.