The Central Bank has lowered the reserve requirement ratio for 3 times since the end of 2011, and cut the interest rate for the first time since 2009 in June 2012. It also carries out pre-adjustment and micro-adjustment of the macro-policy, bringing opportunities to the increase in stable development of the real estate market in Chongqing. Ignoring the tight budget and shortage of construction, the 4 major features show the rational and healthy future of the real estate market in Chongqing.
The newly constructed area was 28.2397 million square meters in the first half of 2012, with the year-on-year decrease of 23.0%, while the investment in real estate reached 220.304 billion yuan from January to November 2012, up 24.1% year on year.
Additionally, the sales area of commercial houses in Chongqing hit 38.159 million square meters, up 3.5% year on year, and 2.5 percentage points higher than that in the first 3 quarters of 2012.
Liu Wei