Qin Hong of China’s Ministry of Housing and Urban-Rural Development
China’s real estate market performed beyond expectations in 2013, with most developers showing strong growth in sales and profits, and the majority of cities saw housing prices continuing to rise.
However, at least one China expert foresees such progress as harder to come by in 2014.
Forbes’ Russell Flannery reports that,
Rather than a city’s real estate performing well overall, individual districts are more likely than in the past to stand out, said Qin Hong, the director of the policy research center of the Ministry of Housing and Urban-Rural Development.
Likewise, rather than developers as a group thriving nationwide, a more narrow subset of specialized companies among them will benefit most, she said.
While hardly predicting a dire future for the market this year, the official’s prediction, if it comes true, will likely be disappointing for investors who became accustomed to more rapid growth in China’s real estate market in 2013.
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