Beijing records 13.95 million square meters of vacant houses

At the end ofugg boots April vacant houses in Beijing occupied a total area of 13.95 million square meters, an increase of 36 percent year-on-year. Of this, the area of vacant residential houses totaled 4.876 million square meters, an increase of 28 percent year-on-year. On June 2, a research ugg classicteam on "sustaining stable and fairly fast economic development" organized by the Chinese People's Political Consultative Conference (CPPCC) attended a report meeting held by Beijing Municipal Committee of CPPCC. During the meeting, Yu Xiuqin, news spokesperson of Beijing Municipal Bureau of Statistics, stated that based on the trading volume of existing residential houses in 2008, these vacant houses would take at least 2.5 years to be consumed. Yu stated thatugg crochet only 3 in 10 units of the houses that are presently being sold are existing houses, with the majority of them being houses to be delivered in the future (future delivery houses) which are either under construction or planned projects. It could be said that the boom in Beijing's real estate market in the recent past has just been a consumption of future delivery houses rather than existing houses. She said that inugg lace-ups boots the first four months of this year, the area of commercial residential houses sold reached 4.656 million square meters, but only 921,000 square meters of them were existing residential houses, and the remaining 3.735 million square meters were future delivery houses, a difference of more than four times. In 2008, 2.087 million square meters of existing residential houses were sold. Based on the housing sales volume in 2008, the present vacant existing houses will not be consumed until at least 2.5 years later. What is worse is that the housing sales this year are not as good as last year. Xu Shanda, a CPPCC member ugg miniand former Deputy Commissioner of the State Administration of Taxation noted in the meeting that thanks to the previous recovery, the cash flows of real estate developers now are not that tight and bank loans are relatively easy to obtain. Many real estate developers believed that since the interest rates of bank loans were not that high and they were in control of the existing houses, they could still make a profit as long as the increase in housing prices were higher than the interest rates. In addition, some peopleugg nightfall believe that when developing new projects most real estate developers prefer the mode of selling houses as future delivery housing. The more future delivery houses are sold, the more rapidly the real estate developers can receive the funds. Furthermore, the sale prices of existing houses are remarkably higher than that of the future delivery houses in the same location and at the same level. This is also one of the reasons to cause difficulties in the sales of existing houses. ed hardy tanks
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