Chinese housing prices have surged since March, but they will soon lose momentum and even start to fall around the end of the year, boding well for a more sustained contribution to overall economic growth.
A burst of lending in the first six months helped fuel a wave of pent-up end-user buying and speculative purchases, driving up prices for some projects in major cities by 20-30 percent and creating concerns about dangerous bubbles.
Speculative transactions are subsiding now; at the same time, a fresh round of property investments will increase supply.
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Nearly 80 percent of people believe Dubai’s construction industry will never return to its peaks of 2008 following the impact of the global economic crisis, according to the results of an Arabian Business poll.
Some 39.6 percent of respondents said they thought the market would not return to its heyday, when property prices were at their highest and billion dollar deals were common.
