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Chinese to English: Four predictions for the housing market in 2017: more control measures, interest rate rises, stable prices, and quicker pace in M&As General field: Bus/Financial Detailed field: Business/Commerce (general)
Source text - Chinese 2017楼市四大猜想：调控持续加息预期 房价走稳并购加速
Translation - English Four predictions for the housing market in 2017: more control measures, interest rate rises, price stability, and accelerated M&As
2017-01-05 02:04 Beijing Morning Post
The Central Economic Work Conference has made it clear that 'houses are for living, not for flipping' and since the beginning of December, 2016, decision-makers have clarified property-related control measures on six separate occasions.
What will happen in 2017? Will house prices go up or down? As the new year begins, we make four predictions for the property market.
More controls
On December 14, 2016, the Central Economic Work Conference set a clear tone for housing market controls in 2017, with a dual focus on reducing oversupply and letting air out of the housing bubble, and accelerating research on long-term mechanisms for the housing market.
On December 29 and 30, the Housing Ministry published Notice of the Leading Party Group of the Ministry of Housing and Urban-Rural Development on Inspecting Reforms, which paid close attention to the control of house prices in overheated urban markets and oversupply in third- and fourth-tier cities and towns. The ministry also published a list of 21 property developers that violated sales regulations.
In fact, in December 2016 alone, decision-makers clarified controls and regulations relating to the housing market on six separate occasions.
Looking at the attitude of regulators, it’s clear that maintaining stability remains the key focus for 2017. It is predicted that in 2017, control measures will continue in overheated urban markets. As long as house prices increase, policies will follow: this follows the same logic as moves to control financial risk in the macro environment.
At the same time, supply-side structural reforms such as those tackling oversupply in third- and forth-tier cities will also be extended. In addition to providing major policy-level support, this approach can also feed into efforts to improve overall city fundamentals. It is expected that control measures for individual cities are to be improved based on the situation in each city, in a ‘one city, one policy’ approach.
Interest rate hikes
The housing market was hot in the third quarter of 2016. This had a lot to do with the easing of credit policies, as credit is an important factor impacting house prices over the short-term.
Following Shanghai’s lead, on December 23, 2016, Hangzhou became the second city to introduce a policy of checking housing and loan records to determine a buyer’s number of homes and therefore the ratio of their down payment. This policy, which is seen as the strictest there is, may be rolled out further, and has become a sword of Damocles hanging above all overheated urban markets.
The introduction of this policy will directly impact the volume of transactions and the movement of house prices in the market.
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Years of experience: 11. Registered at ProZ.com: May 2016. Became a member: Jun 2016.
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Chinese to English (Institute of Linguists Educational Trust (Chartered Institute of Linguists), verified)
- Full-time, professional translator
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- Six years living in China
- Three years running Chinese translation agency
- Diploma in Translation - merit and two distinctions
- Native English speaker
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I produce accurate, idiomatic and highly readable English translations of Chinese texts.
I have a professional background in Mandarin, Chinese to English translation, project management, proofreading, editing, writing, event planning and execution, marketing, website and online, magazine publication, and English language teaching and training.
I lived, worked and studied in Chengdu, China for six years, from 2006 to 2012. Between 2012 and 2016 I ran a Chinese translation company in London. I am an avid reader of Chinese news and culture.
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In 2016 I passed the Diploma in Translation for Chinese to English, with a merit in the general paper and distinctions for my semi-specialised texts. The Diploma in Translation is a postgraduate level qualification issued by the Charted Institute of Linguists Educational Trust and is widely regarded as one of the top translation qualifications in the world. I am now a member of the Chartered Institute of Linguists (making me a certified translator in the UK) and am committed to continuing professional development.
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