Housing sales in small Chinese cities are declining

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In the Chinese real estate market there is a significant decrease in the activity of transactions in small cities in China, referring to the third and fourth levels, Asia Times writes. Researches of the Shanghai Real Estate Research Institute showed that in the first half of November in the cities of the third and fourth levels the drop was 20%, despite the fact that the indicator in the cities of the second level decreased by 27%, and of the first level - by 3%. In October, the minimum growth rate of investment in real estate in 10 months was observed at the level of 7.7% in annual terms. At the same time, the decline in sales of real estate by area was 3.1%. The cooling of the real estate market could be another factor restraining the growth of the Chinese economy.

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