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Property price growth is set to decelerate, with the slowdown to persist for several years, industry experts said on Friday.
"China's housing prices are now approaching a peak, just as what happened to the United States in 2005," said Nie Meisheng, former head of the China Real Estate Chamber of Commerce.
She made the comment at the Ping An Real Estate and Financial Innovation forum in Shenzhen.
Average housing prices in 100 major cities monitored by the China Index Academy rose 0.68 percent month-on-month to 10 Air Max 90 Sale Mens ,758 yuan ($1,707) per square meter in November, the 18th consecutive increase since June 2012.
The growth rate, however, was at the lowest level this year, the academy said.
"It doesn't make sense that home prices will continue to go up while overall economic growth is slowing down," said Nie.
China's GDP will probably expand 7.7 percent this year Air Max 1 Sale Mens , according to Robin Bew, managing director of the Economist Intelligence Unit, a London-based think tank.
However, he's forecasting that GDP growth is likely to slow to 5 percent over the next decade, even if the country successfully carries out its reforms.
"Bubbles do exist in some cities, especially in some second-tier cities with too much supply, but the overall market hasn't seen a big bubble yet Air Max Sale Mens ," said Nie.
According to Qin Hong, director of the policy research center at the Ministry of Housing and Urban-Rural Development, the record high property sales of 2013 are unsustainable.
Qin said that those sales have been fueled by China's baby boom generation, born in the 1980s.
"Property sales will slow to a single-digit growth rate in the future," said Qin.
For Louis Bai, chief executive officer of the Beijing office of Barratt Homes, a large United Kingdom property company Nike Air Max 95 Sale Black , Chinese developers need a new strategy to cope with market uncertainties.
Domestic developers' overseas investment is also on track to set a record high in 2013 of more than 25 billion yuan, according to Nie.
However, Frank Chen, executive director of real estate consultancy CBRE Research China, warned: "As real estate is a very local industry, the risks for Chinese developers' overseas expansion should not be underestimated."
SYDNEY, June 15 (Xinhua) -- The Royal Commission investigating institutional responses to child sex abuse will begin investigating Australia's entertainment industry Nike Air Max 90 Sale Black , local media reported Monday.
"Institutions within the royal commission's scope may include television networks, film and television production companies, theatrical production companies, dance, drama and performing arts schools or colleges, casting agencies or any other company, agency or organization Nike Air Max 1 Sale Black , public or private involved in the entertainment industry," the Royal Commission's chief executive Philip Reed said.
The announcement follows recent high-profile court cases that uncovered repeated child sex abuse and indecent assault in Australia's entertainment industry.
Australian actor Robert Hughes was jailed for seven years in April 2014 on 10 counts of child sex abuse dating back to the 1980s.
Australian entertainer Rolf Harris, who was jailed for pedophilia in Britain, generated controversy by reportedly writing a song which taunts his victims while in prison.
The Royal Commission has conducted 28 public hearings on child sex abuse across Australia into religious and state-run institutions and schools, sporting bodies and a yoga ashram since the Australian government announced its creation in November 2012.
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