Chinas Property Market Set To Improve
News Posted On: 30 December 2008
Overseas property investors might be able to make a profit by purchasing property in China, it has been claimed.
In recent years, the government in the Asian country has taken steps to slow the growth of the property market, but these measures are being relaxed in the face of the global economic slowdown, reports the International Herald Tribune.
Prices fell by as much as 40 per cent in some Chinese cities, but the authorities are starting to provide the real estate market with more funds and favourable policies.
Some developers looked set to go bankrupt, according to the news provider, but this has changed in many cases because Beijing has been forced to slacken its grip on the sector.
It said that property is one of the biggest "drivers" of the Chinese economy and that total investment in the industry accounts for ten per cent of the nation's gross domestic product.
China recently enjoyed increased exposure to tourists through the Beijing Olympics, which boosted the profile of the country as a holiday destination.
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