China Financial Daily

Review and forecast of Beijing real estate market in 2008 and 2009
In the first half of 2008, Beijing housing prices continued to run high, while in the second half, the prices appear the loose, but in the fourth quarter, the prices have a sharp fall. Excluding the policy housing impact, 2008 residential prices in Beijing are equal to the annual turnover in 2007. In 2009, owing to the recession in the global economy, China also will be suffered, so Beijing will also be impacted.
In 2009, Beijing real estate market may continue the downturn status of 2008, the sales are likely to continue to decline. The development company will cut down the prices to promote the sales volume and return the funds because of the capital pressure. Therefore, in 2009, housing prices are likely to be equal to the prices level at the end of 2008, and perhaps there will continue to decline slightly. However, the big fluctuations are less possibility.

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