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China property sales ease in week, restraints seen

14 August 2012

Real estate sales in 18 first and second tier cities tracked by China Confidential declined by an average of 7.80% WoW in the week ended August 12 while home sales in 21 third and fourth tier cities also fell 8.4% WoW compared with one week prior. The ebbing activity was consistent with the China Confidential House Buying Intentions Index (CC Aug 2, Consumer Sentiment Indicator), which showed a 1.6pp MoM decline to 51.3 in July, indicating a slight easing in home purchase activity within a still-buoyant broader market.

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Renminbi Compass, a new research service launched by the FT, aims to act as a navigational guide through the expanding universe of renminbi asset classes. With the Chinese currency gaining ever-wider acceptance around the world and Beijing taking steps to open its capital account, we are broadening our research coverage to include not only equity funds but also all other important renminbi asset classes, such as chengtou bonds, dim sum bonds, real estate, trust products, underground banking, art, antiques and several others.