Chinese investors confident about property despite bubble concern
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Chinese investors remain positive on the property market with 92 percent expecting residential property prices to stay at current level or rise 4.4 percent on average in the first quarter of 2010, a survey found.
The survey, released Wednesday by ING, a global financial services group, also found 86 percent of Chinese investors believed a bubble has begun to form in the country's property sector.
"There will still be strong demand in the property market in 2010. However, the government will likely adopt a more prudent approach in 2010," said Oscar Leung, Senior Investment Manager of ING Investment Management Asia Pacific.
He said as property prices and the global financial system had stabilized, possible measures by the government to curb speculative activity would likely limit the rise in property prices.
Chinese investors are also optimistic about economic outlook and performance of financial markets, with 75 percent of investors expecting China's economy to grow by at least 8 percent this year.
China has continued to be viewed by Asian investors as the top driving force for Asia's economy, according to the survey.
