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China's well-off households report decreasing willingness to buy housing

2019-10-17 01:10

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BEIJING, Oct. 16 (Xinhua) -- China's well-off households reported decreasing willingness to purchase housing in September, survey data showed.

The index measuring willingness to purchase housing went down 2 percentage points, according to a survey conducted by the Bank of Communications (BOC) last month.

Some 1,843 well-off families participated in the survey, with the annual income threshold ranging from 120,000 yuan (about 16,962 U.S. dollars) to 240,000 yuan after tax per household across different areas.

In August, the pace of year-on-year price rises of new commercial housing decelerated 0.1 percentage points from July in the four first-tier cities of Beijing, Shanghai, Shenzhen and Guangzhou.

Prices of resold housing in the four cities fell 0.2 percent year on year, dropping for the first time since June 2018, according to the BOC.

September price increases of both new commercial homes and resold housing in 31 second-tier cities slowed on both year-on-year and month-on-month basis.

The BOC attributed the decreasing willingness to purchase housing to China's policies stabilizing housing prices.
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