China Poll: Housing Prices Unacceptably High

By Ruoji Tang
Published: 2010-09-24

The People's Bank of China published findings from its third quarter survey of urban depositors last Sunday.

The nation-wide survey of 20,000 urban residents who deposit money at various savings institutions in 50 randomly chosen, small-, medium- and large-sized cities, revealed that many expect inflation to continue to strengthen and real estate prices to continue to rise.

72.2% of urban residents found current real estate prices "too high to accept."
36.6% of expect property prices to continue to rise.
46.2% expect higher prices in the next quarter. 

When asked about how they planned to manage their household finances in the 3rd quarter:

44.4% responded that they were more likely to save. 
16.8% responded that they were more likely to spend.
38.8% responded that they were more likely to invest.

When asked about their satisfaction with current consumer prices:

58.3% found current prices too high to accept.
39.7% found the prices high, but acceptable.
2% did not find the prices high

The polls were conducted by the People's Bank of China as part of their regular quarterly survey of urban depositors. The survey questions people from 50 small, medium and large cities across the country in relation to six major topics: current prices, future prices, current employment situation, future employment outlook, current income and future income expectations.
Links and Sources
People's Bank of China: PDF of original report (Chinese)