The ever-rising price of property in China has become cause of worry for an increasing number of people, shows a survey.
Despite the measures taken last year to cool down the overheatedreal estate market, fewer people now believe that the prices would stabilize in the near future.
Only one-fifth of the 2,582 people polled by China Youth Daily's social research centre, sina.com and ePanel Marketing Research Consulting Co were confident that the government's steps would check the trend. Their percentage was 60 in a similar survey conducted only two years ago.
The poll results announced yesterday showed another significant change: instead of blaming real estate investors for raising the prices to earn huge profits, as respondents had done two years ago, more people now blame the government's vulnerability in macro-control measures for the malaise.
The rising demand and the concurrent raising of prices by investors are to blame, said Bao Zonghua, president of China Real Estate and Housing Research Association. And the macro-control measures need time to take effect.
Almost all the respondents said there was a bubble in the real estate market, with nearly half being certain that it would burst in 10 years. But almost 40 percent believe that the bubble would never burst.
A whopping 80 percent believe that real estate prices would continue to rise this year, and 30 percent fear it would do so at a greater pace.