China's central bank pledged Wednesday to support first-time home buyers, marking the first notable softening in tone towards the real-estate sector since a clampdown on prices that began in mid-2010
The People's Bank of China said it would ensure lending support to affordable housing projects and take other steps to address credit flows to "weak links," including first-time home buyers, according to a statement posted on its website
Societe Generale economist Wei Yao said the statement signals a "significant" shift that gives more weight to demand in the private sector, but it shouldn't be seen as a reversal of the broad program to prevent a bubble in housing
"This change was probably a response to the rapidly worsening property data, and aimed to lead the sector to bottom-out earlier than later
However, we don't think Beijing will reverse its tough stance on speculative demand and developers so soon," Yao said in a note Wednesday
No hay comentarios:
Publicar un comentario