Noida, UP -- (SBWire) -- 11/11/2010 -- Our study “China Housing Sector Outlook 2013” reveals that Chinese housing sector is relatively young, but is one of the most dynamic sectors in the world. It has emerged during the last decade and has become an important investment instrument for the people in China. Despite deepening economic gloom in the US and Europe as a result of the sub-prime mortgage debacle and ensuing credit crunch, China’s housing sector remains on course for yet another year of double digit growth. Supported with rapid urbanization, high savings ratio, and the government support, the industry is expected to grow at a CAGR of close to 10% during 2009-2013.
The housing construction activity maintained a double-digit pace of growth and overall housing prices followed a growing trajectory. Economic expansion was a major reason for the ongoing growth and development. At present, private (ordinary as well as luxury) housing acquires the largest portion of the residential property market in the country. Our report presents thorough analysis on each of the housing segments like, ordinary housing, luxury housing, and subsidized flats. It has also studied housing development hubs in the Chinese housing sector.
We have found that, the Chinese government has announced a massive plan to rebuild and renovate dilapidated houses in rural areas, aiming to improve people's life, create jobs, and boost domestic demand amid the global economic meltdown. Our research also reveals that there is huge demand for second hand homes in China. Our report has discussed various trends of Chinese housing market.
The government has announced a series of new measures to boost the domestic real estate market, which had shown signs of slowing amid the global financial turmoil. The measures are basically concentrated on tax reduction and relaxing restrictions on financial institutes to provide loans to private home buyers. Our report provides a detail study on housing reforms and the government measures. In addition, the report covers demand and supply analysis and information on leading players of the industry.
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Chinese Housing Industry Showing Persistent Growth
With government spending on public housing, China’s housing industry’s revenue is set to increase at CAGR of about 10% by 2013, says RNCOS.