A group of Chinese officials and real estate investors have denied that a property bubble exists in China.

The Chinese government has been active in recent months, particularly in raising interest rates, trying to cool down a real estate market that many view as overheated.

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Yet a panel at the Mipim real estate conference argued that there remains a strong case for long term investment into Chinese property, with nobody on the panel suggesting that it was time to divest and that a major market correction was imminent.

Richard David, CEO of Treasury China Trust said: “China is a diverse country and while parts of the property market look a little toppy, I can’t think of any other market that has so much demand. In China there are millions of people every year that are looking for homes in urban areas.”

Xu Qianli, director-general of Chongqing City Construction Comprehensive Development Management Office, described his city as having plenty of room left for growth and that a bubble was unlikely.

He said: “We don’t have a bubble in Chongqing and investors here will see a significant return over the next 10 years. I think China is urbanizing and there is a lot of room to expand.”

A group of Chinese officials and real estate investors have denied that a property bubble exists in China.

The Chinese government has been active in recent months, particularly in raising interest rates, trying to cool down a real estate market that many view as overheated.

Yet a panel at the Mipim real estate conference argued that there remains a strong case for long term investment into Chinese property, with nobody on the panel suggesting that it was time to divest and that a major market correction was imminent.

Richard David, CEO of Treasury China Trust said: “China is a diverse country and while parts of the property market look a little toppy, I can’t think of any other market that has so much demand. In China there are millions of people every year that are looking for homes in urban areas.”

Xu Qianli, director-general of Chongqing City Construction Comprehensive Development Management Office, described his city as having plenty of room left for growth and that a bubble was unlikely.

He said: “We don’t have a bubble in Chongqing and investors here will see a significant return over the next 10 years. I think China is urbanizing and there is a lot of room to expand.”