Sentiment survey reveals trends for Chinese property buyers

To gauge the buying demand of mainlanders 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 third poll, conducted in the third quarter in Beijing and Shanghai, 484 clients of Century 21 were interviewed, compared to 565 in the second quarter and 350 in the first quarter.

The latest survey indicated homebuying interest was slightly lower than in the second quarter. Fewer respondents reported that they would consider projects priced at more than 30,000 yuan (HK$38,000) per square metre.

The results also showed a sharp increase in the proportion of potential upgraders who owned a home and wanted to move up the property ladder.

At the same time, respondents showed they were becoming more interested in buying property overseas, with potential emigration cited as a more important factor than investment.

Sentiment has improved in the mainland's housing market after a policy relaxation late last month, but much depends on whether banks boost lending.