Central Bank Survey Shows Almost 70% Think House Prices are Too High

Central Bank Survey Shows Almost 70% Think House Prices are Too High
Mar 22, 2013 By eChinacities.com

The People’s Bank of China recently surveyed 20,000 people in 50 Chinese cities on a number of personal finance topics. The results of the survey showed that almost 50% of respondents prefer to “save more” rather than invest or spend money. 68% percent of respondents also stated that they believed house prices in China were too high, and “hard to accept.” No doubt related to the sentiment expressed by respondents, house sales across China have been decreasing according to recent data. Moreover, only 2% of those surveyed thought that house prices were “satisfactory,” while the survey showed that most are looking to invest their money in “funds and wealth management products,” “real estate,” and “bonds” in that order. The percentages of citizens who had invested their money in these three areas were 25.9%, 19.9%, and 14.6% respectively.

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Keywords: investment money China house prices China

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