| ACFIC: Half of Real Estate Expenditures Go to Government
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ACFIC and CURA predict the economy will recover in the third quarter of 2009, and housing prices will stabilize during the second half of the year. |
The Chinese government re-absorbs 49.42 percent of Chinese realty company expenditures, including land costs and purchase taxes, according to the REICO Studio annual real estate report. REICO was set up by the All-China Federation of Industry and Commerce (ACFIC) and China Urban Realty Association (CURA). Statistics quoted in the report are based on a survey from July to October 2008 of 62 realty companies in Beijing, Shanghai, Guangzhou and six other cities. The REICO report predicts: "The economy will recover in the third quarter of 2009, and housing prices will stabilize during the second half of the year." |
