Number of real estate deals has sharply grown in China

Almaty. August 9. Silkroadnews – A number of real estate deals has sharply grown in China, Xinhuanet reported.
“Poly Real Estate Group, one of China’s leading real estate companies, reported strong sales growth in July despite tight regulation of the property sector. In a brief statement filed to the Shanghai Stock Exchange, Poly said its sales rose 36.4 percent year on year to 16.6 billion yuan (about 2.5 billion U.S. dollars) in July. In the first seven months of this year, sales rose 32.9 percent to 163 billion yuan, the company said”, the report said.
At present, the Chinese government is strengthening the real estate market regulation. Rising housing prices, especially in large cities, have raised concerns about the possible emergence of economic bubbles. Since the end of 2016, dozens of local governments have passed or expanded the list of restrictions on purchase of housing and increased the minimum initial deposit required for a mortgage.