2014.07.2908:51:00UTC+00Moody's Sees Improvement In Chinese Property Sales In H2

Moody's Investors Service on Monday said that the national sales volume of China's residential property market will likely improve in the second half of 2014.

Franco Leung, a Moody's vice president and senior analyst, "An expected increase in mortgage availability, selective loosening of regulatory restrictions in certain cities, and a higher number of new project launches by developers will support the growth in sales volume in 2H 2014 over 1H 2014."

Leung expects contracted sales value growth to continue to range between zero and 5 percent year-on-year for the rest of this year.

Moody's also forecast mortgage availability to improve in the second half of this year, while the mortgage approvals and disbursement period will be shortened.

About 85 percent of developers rated and tracked by Moody's outperformed the national average sales growth in the first half, it said.