The radical restrictions that the central government has applied to the purchase of houses seem to have made its first revenues in last February, when the aggressive real estate market showed a decline in transactions, according to reports from developers in the industry.
China Vanke, the largest real estate development agency of the country for sales, said last Friday that home sales fell nearly 70 percent year on year in February, registering 6,080 billion yuan ($ 0.930 million).
Cia. Real Estate Guangzhou R & F, which is listed on the Stock Exchange of Hong Kong, said Tuesday that its contract sales had declined by 57 percent over the previous month, while his counterpart KWG Ltd held a drop of 25 percent from January.
"This decline results from the combined action of the Spring Festival and new state policies," said Ji Feng, a researcher with China Centaline Real Estate, told the Global Times.
Ji noted that policies had been implemented with a sense of opportunity, after the State Council, the nation's cabinet, ordered cities to impose restrictions prevailed exorbitant prices for mid-February.
So far, 36 cities have adopted and are expected to be implemented in another 26.
For their part, cities such as Shanghai and Tianjin have said they will prepare their housing sales goals by the end of March.
Beijing reported sales of new homes in February 3436, for a reduction of 70 percent compared to January and a record low since 2009, according to the website of real estate transactions in Beijing.
In February, only established 239 new housing complexes in 72 large and medium cities, a reduction of inter-nearly 70 percent, while 15 cities reported a total absence of real estate, according to Shanghai Securities News.
In view of speculators, developers could cling to their land for a while, to be held for better times, when you relax a little restrictive policies and recover the market outlook.
However, observers say that the transactions in cities of second and third categories exceed those of first, due to strong demand and lower prices.
China Vanke, the largest real estate development agency of the country for sales, said last Friday that home sales fell nearly 70 percent year on year in February, registering 6,080 billion yuan ($ 0.930 million).
Cia. Real Estate Guangzhou R & F, which is listed on the Stock Exchange of Hong Kong, said Tuesday that its contract sales had declined by 57 percent over the previous month, while his counterpart KWG Ltd held a drop of 25 percent from January.
"This decline results from the combined action of the Spring Festival and new state policies," said Ji Feng, a researcher with China Centaline Real Estate, told the Global Times.
Ji noted that policies had been implemented with a sense of opportunity, after the State Council, the nation's cabinet, ordered cities to impose restrictions prevailed exorbitant prices for mid-February.
So far, 36 cities have adopted and are expected to be implemented in another 26.
For their part, cities such as Shanghai and Tianjin have said they will prepare their housing sales goals by the end of March.
Beijing reported sales of new homes in February 3436, for a reduction of 70 percent compared to January and a record low since 2009, according to the website of real estate transactions in Beijing.
In February, only established 239 new housing complexes in 72 large and medium cities, a reduction of inter-nearly 70 percent, while 15 cities reported a total absence of real estate, according to Shanghai Securities News.
In view of speculators, developers could cling to their land for a while, to be held for better times, when you relax a little restrictive policies and recover the market outlook.
However, observers say that the transactions in cities of second and third categories exceed those of first, due to strong demand and lower prices.
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