Another New Normal by Caixin Media Company Limited
2016 was a stormy year for the real estate market. First of all, the sale amount of China's real estate reached 10.25 trillion yuan. Second, 22 cities in China took turns to restrict the purchase policy around the National Day. Both of these are historic events.
We first collect the property price and the increase rate of 100 cities from 2011 to 2016 to present China's real estate market by a macro perspective.
Then, central and regional real estate policies from 2009 to 2016 are collected to compare with the property price at that time. We find that most of policies were announced in the second half of rising phase (control) and the first half of the declining phase (stimulus). Curb the real estate bubble and prevent ups and downs were both important. The contributions of real estate to the local revenues can never be ignored.
After that, we draw a house area map to show the big difference of property price among the cities. In the first tier cities, you may just buy a bathroom with 1 million yuan, while in the third tier cities you can buy a house with 200 square meters.
Some mini data are also be used to describe China's real estate market like inventory, the price of land and bond issuance by real estate companies in 2016.
We will still keep a watch on China’s house price which is concerned by millions of Chinese people.