Over 56 pct of Chinese respondents expect home prices to stay unchanged in Q1

BEIJING, Jan. 2 (Xinhua) -- A majority of Chinese residents think home prices will stay unchanged or fall in the first quarter of 2022, said a recent central bank survey.

File photo: Xinhua

Among the 20,000 urban bank depositors surveyed in 50 cities across China, 56.7 percent of respondents expect home prices to remain flat during the first quarter, while 15.2 percent forecast a fall, according to the survey conducted by the People's Bank of China.

Some 16.8 percent of respondents expect an increase in home prices.

Sticking to the principle of "housing is for living in, not for speculation," China has adopted a slew of measures to cool once red-hot home prices and promote the healthy development of the property sector over the past few years.

China will support the property market to better cater to the reasonable demand of home buyers and adopt city-specific policies to boost the virtuous cycle and healthy development of the sector, according to the annual Central Economic Work Conference last month.