The People's Bank of China (PBC) released a report on the amount of loans and mortgages in the third quarter of the year.
In the first nine months, the newly-added loans in the property sector summed up to 1.72 trillion yuan ($257.31 billion). Of the amount, 559.2 billion yuan ($83.66 billion) went to property developers; 1.16 trillion yuan ($173.54 billion) to individual mortgages. In the third quarter, in comparison with the second, the loans destined to property developers decreased by 5.3 billion yuan ($793.02 million), and individual mortgagers decreased by 181.9 billion yuan ($27.22 million).
An analyst from the China Securities Co., Ltd predicted that as the newer measures, intended on cooling the property sector, were released at the end of September, property mortgages in the fourth quarter are likely to drop down.
Besides, the readjustment of interest rates last week renders a rather heavy impact on the property market.
In the first three quarters, the loans offered by financial organizations totalized 6.3 trillion yuan ($943 billion), according to the report.
