BEIJING Jan 24 Banks' lending to China's
property sector eased in the last quarter of 2013 from the
previous three months, Reuters calculations from central bank
data showed on Friday, adding to signs of stabilisation in the
Chinese banks lent 440 billion yuan ($72.7 billion) to home
buyers and property developers between October and December
2013, down from the third quarter's 600 billion yuan but still
up 20 percent from a year earlier.
China's property market began to show signs of stabilising
at the end of 2013, with home price rises easing in some major
cities as government tightening measures started to
Total property loans issued hit 2.3 trillion yuan in 2013,
up 998.7 billion yuan from a year ago, the central bank said on
its website, www.pbc.gov.cn
Outstanding home mortgages by the end of December were up 21
percent from a year ago at 9.8 trillion yuan, while outstanding
loans to developers climbed 16.3 percent to 3.52 trillion over
the same period.
New loans for public housing construction totalled 153
billion yuan in 2013, to make up 31 percent of all loans to
developers, it added.
China's home prices are at record highs and well beyond the
reach of ordinary people, though analysts expect price rises to
moderate in 2014 thanks to increased supply, relatively tight
credit control and the impact of government measures.
($1 = 6.0517 Chinese yuan)
(Reporting By Xiaoyi Shao and Jonathan Standing; Editing by Kim