House buying stays hot despite rate tightening

cctv.com 03-21-2005 10:56

Chinese consumers' enthusiasm on house buying remains high and has not been affected by last October's interest rate hike.

A survey released by the Central Bank shows that twenty percent of respondents have plans of buying houses in the following three months.

In cities such as Shanghai, Hangzhou and Wenzhou, where housing prices have seen the greatest increase, residents are surprisingly showing even more interest in house buying. Prospective house-buyers made up 23, 24 and 42 percent of the local residents surveyed in those cities respectively. Analysts believe this is partly because more and more people are purchasing property for investment rather than for living.

Editor:Hu Hang  Source:CCTV.com