Tianjin Residential

Asian Cities

1H 2018

 

Economic overview
Responding to government policies, Tianjin has implemented regulations of protecting the environment and cutting overcapacity, shifting from pursuing rapid economic growth to promoting high-quality economic development. Consequently, the city’s GDP has experienced mild growth at its slowest pace in history. In 2017, Tianjin’s GDP reached RMB1.86 trillion, an annual growth rate of 3.6%. Tianjin is on its way to rebalancing its economy to achieve sustainable long-term growth. The local real estate market was accordingly affected by the city’s economic development with the value of real estate investment at RMB223 billion in 2017, slightly down by 2.9% year-on-year (YoY).

Policies
In 2017, the real estate market witnessed certain macro-control regulations. Dozens of local governments introduced or expanded restrictions on house purchases and increased the minimum down payment required for a mortgage. "Housing is for living in, not for speculation" continues to be the guiding principle for housing market development in China.

 
 

Key contacts

Simon Smith

Simon Smith

Senior Director
Research & Consultancy

Two Exchange Square

+852 2842 4573

 

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