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Update Alerts

Weekly housing sales slow in China but market turns bullish

23 October 2012

Weekly housing transactions, as monitored by China Confidential, fell in the week ending October 21, but this was likely due to the fact that the previous week’s data included transactions that had not been registered during the first week of the month, due to the “Golden Week” holiday. On average, sales in the first three weeks of this month are down 12%, but below the 24% MoM drop recorded during the first two weeks of October. We think this suggests that sales are stabilising, a sense also shared by the market which interpreted China’s latest batch of economic data as positive for the real estate sector. 

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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.