Facing low transactions and tightening policies from both central and local governments, China's property developers said they are "cautiously optimistic" about the market in 2011 and set higher sales targets.
Adequate liquidity and the steady trend of China's urbanization seem to indicate that such confidence is warranted despite the governments' actions to curb excessive growth of home prices.
After the New Year holidays, local governments in many cities announced that they would continue restricting home purchases in response to the central government's efforts to further curb property price increases in 2011. Rumors that the property tax pilot programs will include two more cities also rocked the market.
"It will be arrogant to predict the market in 2011 before the official economic data are released," Ren Zhiqiang, president of Beijing Huayuan Group, wrote in his blog.
However, Ren nevertheless estimated that property investment growth would slow down, but sales would increase.
Country Garden Holdings Company Limited, a listed housing developer, is looking forward to reaching a sales target of 40 billion yuan after sales exceeded 30 billion yuan in 2010. Hong Kong-based KWG Property Holdings also proposed a sales growth target of 50 percent.
KWG Property noted that the company is confident about 2011, thanks to adequate inventories and the growth potential of some of its property projects.
China's largest residential property developer Vanke stated that its 2011 sales will be above 100 billion yuan. Another leading developer Poly Real Estate Group eyed 50 percent sales growth.
A Guangzhou-based developer noted that it is "generally bullish" on the property market in 2011 and that the country's urbanization will continue to push housing prices in the second and third-tier cities.
At the end of 2010, a large number of housing developers, big and small, became aggressive again in the land market, implying their confidence and optimism.
By People's Daily Online
Adequate liquidity and the steady trend of China's urbanization seem to indicate that such confidence is warranted despite the governments' actions to curb excessive growth of home prices.
After the New Year holidays, local governments in many cities announced that they would continue restricting home purchases in response to the central government's efforts to further curb property price increases in 2011. Rumors that the property tax pilot programs will include two more cities also rocked the market.
"It will be arrogant to predict the market in 2011 before the official economic data are released," Ren Zhiqiang, president of Beijing Huayuan Group, wrote in his blog.
However, Ren nevertheless estimated that property investment growth would slow down, but sales would increase.
Country Garden Holdings Company Limited, a listed housing developer, is looking forward to reaching a sales target of 40 billion yuan after sales exceeded 30 billion yuan in 2010. Hong Kong-based KWG Property Holdings also proposed a sales growth target of 50 percent.
KWG Property noted that the company is confident about 2011, thanks to adequate inventories and the growth potential of some of its property projects.
China's largest residential property developer Vanke stated that its 2011 sales will be above 100 billion yuan. Another leading developer Poly Real Estate Group eyed 50 percent sales growth.
A Guangzhou-based developer noted that it is "generally bullish" on the property market in 2011 and that the country's urbanization will continue to push housing prices in the second and third-tier cities.
At the end of 2010, a large number of housing developers, big and small, became aggressive again in the land market, implying their confidence and optimism.
By People's Daily Online
