By Liao Yingmin　

Date: 2004/05/21

Abstract:   

In the first quarter of 2004, the real estate market in China witnessed a continuous boom with the sale price hiking by 7.75% year-on-year. In 2004, prospected demand on housing will still be very strong in the light of a high economic growth rate. The state macro-control policy will curb the investment in real estate, but it will stay at a relatively high growth level. Propelled by supply and demand and cost effects, the sale price of real estate will be slightly higher than that of the previous year. It is suggested to take overall administrative and economic measures to adjust the real estate supply structure in accordance with market demand and to put a strict ban on housing speculation so as to achieve a balance of supply and demand in real estate market.