chinese cities impose new property controls
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Chinese cities impose new property controls

Arab Today, arab today

Arab Today, arab today Chinese cities impose new property controls

China’s home prices have surged since late 2015
Beijing - Arab News

A number of provincial capitals across China have rolled out new curbs to further slow home property sales, and bear down on lingering speculators that could destabilize markets ahead of a key Communist Party congress next month.
Shijiazhuang, capital of Hebei province, has banned investors from selling newly bought homes for up to five years, while Changsha, capital of Hunan province, has barred homeowners from buying a second property for up to three years from the time of their first home purchase, according to the official Xinhua News Agency.
Changsha has also limited property sales to non-local residents to one unit per person.
Home prices have surged since late 2015, with the country’s biggest cities including Shenzhen and Shanghai the first to see huge spikes in their markets. Provincial capitals started to join in the fray last summer as speculators flooded into tier-two cities.
The government, concerned about potential instability posed by frothy property markets and soaring credit growth, has increasingly clamped down on speculators since late last year, unleashing a series of restrictions to douse the country’s super-hot home property markets.
Average new home prices in China’s 70 major cities rose 0.2 percent in August this year from July, the slowest pace in seven months, according to the latest official data.
Prices of homes in China’s tier-one cities including Beijing, Shanghai, Shenzhen and Guangzhou either fell from a month earlier or were unchanged. One outlier was Chongqing, in southwest China, where prices inched up 0.3 percent from July.
Authorities in Chongqing, along with those in Nanchang in the Jiangxi province, have since banned transactions of new and second-hand homes for two years after purchase, according to documents published on the municipal governments’ official websites.
The various measures took effect last week.
Additionally, Xian, capital of Shaanxi province, has told developers from Monday to report home prices to local price-monitoring departments before sale, and reiterated its pledge to crack down on property price manipulation and speculation.
Signs of a more stable housing market will be good news for the Communist Party as it prepares for a once-in-five-years congress, a politically sensitive time.
China’s property market has become a major source of financial risk. A central bank official earlier this month said authorities needed to maintain strict controls over property markets in first and second-tier cities where prices gains have been the strongest.
Short-term household loans in August doubled from July to 216.5 billion yuan ($32.85 billion), as some home buyers may be turning to short-term consumer loans due to curbs on mortgages, analysts say.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese cities impose new property controls chinese cities impose new property controls

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

chinese cities impose new property controls chinese cities impose new property controls

 



GMT 16:16 2014 Wednesday ,10 September

Samirah Ibrahim receives Saudi cultural attaché

GMT 09:32 2017 Sunday ,24 September

China confirms will limit oil exports to North Korea

GMT 19:56 2016 Saturday ,17 September

Typhoon Meranti death toll rises to 28

GMT 09:40 2018 Monday ,01 January

OIC Summit opens in Kazakhstan

GMT 06:37 2015 Monday ,07 December

Iran film directors protest colleague's jail term

GMT 18:37 2017 Friday ,25 August

Mental health issues should be prioritized

GMT 04:39 2017 Thursday ,31 August

Trump vows to right 'self-destructive' tax code

GMT 05:29 2017 Tuesday ,22 August

Celebrations across India on 71st Independence Day

GMT 10:54 2017 Wednesday ,11 October

Child obesity grows tenfold since 1975

GMT 02:31 2016 Tuesday ,06 December

Dubai Women Establishment delegation participates

GMT 04:29 2018 Wednesday ,19 September

North and South Korea: Kim and Moon hail new future

GMT 14:18 2013 Monday ,19 August

Newlywed Lebanese couple pose at car bomb site

GMT 11:11 2011 Friday ,12 August

Palestinian university ranks seventh in Arab world

GMT 15:16 2015 Wednesday ,26 August

UAE ambassador attends charity ceremony in Qalubiya

GMT 16:59 2016 Tuesday ,26 July

Hedge funds in new cycle of oil short-selling
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday