? Can this affect XIN - 69.6% drop in real estate sales in Guangzhou
for Jan & Feb '14 _ a city with a 13 mil population. I do not see XIN having any property in this area. I could be wrong as the Pearl River Delta Mega City area is comprised of a total population of about 60 million, thus several cities. I haven't studied a map. Is this an example of what might be a trend of sales substantially slowing down in others parts of the country?? - my concern
You should take a look at a map of China and their provinces. Guangzhou is the largest southern city in the province of Guangdong. (down near Macau and Hong Kong), and is a tier 1 city, not Xin's territory.
XIN had a sales event in Suzhou March 14 which is their 4th for Xincheng.....9200yuan/sq meter seems a very good price and 300 people "fighting" for 124 suites.
---------124 suites with nearly 300 people "fighting" Xin
Xin Yuan Xincheng 4 The launch of the 124 suites source, five kinds of units, the area between sections 87 -92 square meters, the average price of 9200 yuan / square meter. According to statistics, nearly 300 groups of customers attended the scene, while the number of 124 sets of listings appear "stretched", showing buyers favor of the project. ------------
XIN has nothing in the Pearl River Delta....sales are slowing down all over China to a more rational level.
---------- Zhu Zhongyi, deputy head of the China Real Estate Industry Association, estimated that the slowing economy will further push the real estate sector onto a smoother and more rational path.
Han Siyi, a property analyst with Shenyin Wanguo Securities, said that monetary policy affected the industry, pointing to the previous two housing price declines that emerged in 2008 and 2012, both after the central bank increased capital reserves and loan interest rates.
China's premier, Li Keqiang, said on Thursday that the country will curb speculation and investment-oriented purchases and support people's reasonable needs for housing.---------