Beijing home price to stabilize in five years:expert

Home price in Beijing would stabilize and rise moderately in next five years, Liu Xiaoguang, president and chief executive officer of Beijing-based Capital Group, said in Dalian Friday.

Liu said the value of homes within the fifth ring road would appreciate with the expansion of the city and Chinese had the tradition of buying homes for the value preservation purpose.

This would further push the rise of the home price in Beijing, he told Xinhua during the ongoing Summer Davos in northeast China's coastal city of Dalian.

Areas within the fifth ring road is considered as the central city.

Liu, whose group is a leading domestic property and financial conglomerate, said home price in Beijing would experience normal fluctuation, but the possibility of massive rise and fall was slim in following years.

Property price and sales began to pick up this February, boosted by people's pent-up demands and their heartened confidence of the economy recovery.

Source: BizChina