SCMP-CTC survey on mainland China homebuying demand
Inaugural SCMP-CTC survey finds transactions down in Beijing and Shanghai, while prices are stable
To gauge mainlanders' buying demand for domestic and overseas residential property, the South China Morning Post and Century 21 China Real Estate (CTC), a mainland property consultancy, have partnered on a quarterly sentiment survey.
In the first survey, carried out during the first quarter of this year in Beijing and Shanghai, 350 CTC clients were interviewed.
The survey results reflect a growing wait-and-see sentiment in both cities, as local government tightening measures have gradually cooled down an overheated market.
Home transactions in the secondary market in Beijing fell 43 per cent in the first quarter from the previous quarter to 23,156. Shanghai also suffered declining transactions, while secondary home prices in both cities remained largely unchanged.
An increasing number of mainlanders are buying homes overseas, but they still face capital controls, with the quota being US$50,000 per person per year.