The recent surge of property prices and sales in China has triggered bubble talk and concerns over one of the most important pillars of the Chinese economy, but UBS AG says there is unlikely to be a big bubble burst in the near future.
Property sales grew by more than 25% nationwide in the first eight months of this year, with residential sales totaling 1.28 billion square meters in the 12 months to August, or over 12 million units.
Property prices in a number of cities have risen by 30% to 40% year to date, and in some districts over 50%, with the rally spreading to more cities.
The much-hoped for property recovery came after two years of progressive policy easing, starting with relaxation of home purchase restrictions in mid-2014, followed with multiple mortgage down payment requirement cuts, increased credit access for mortgages...
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