China's home prices for last month posted the biggest decline in 19 months as the government pledged to maintain curbs on property, according to SouFun Holdings, the nation's biggest real-estate portal. And market watchers expect prices to continue to fall, with no signs of the curbs easing in sight. Home prices dropped 0.3 per cent last month from January, according to SouFun, which began compiling the...
China Property Market
Shanghai eased home purchase restrictions to allow a broader pool of buyers to purchase a second property in China's financial centre, the Shanghai Securities News reported yesterday. The city loosened its definition of locals to allow residence permit holders who have lived in the city for at least three years to buy a second home, the newspaper said, citing an unidentified official of the city's housing...
China will limit mortgages for home purchases by foreigners to curb overseas investment, as part of its continued efforts to lower property prices. According to the National Development and Reform Commission, China’s planning agency will not approve medium- and long-term foreign debt quotas for overseas banks this year, if they intend to use such borrowings to fund home loans taken out by...
China's December home prices posted their worst performance last year, with only two of the 70 cities tracked posting gains, and may drop further as Beijing sticks to its campaign to bring housing costs back to levels that the government considers reasonable. Prices in 52 of 70 cities monitored by the government declined from the previous month, the National Statistics Bureau said yesterday. New home...
Annual growth in real estate investment in China, a main driver of the economy, slowed last month to its lowest pace in a year, falling in tandem with property sales revenues. Property investment grew 12.3 per cent last month from a year earlier, down from an annual rise of 20.2 per cent in November and 25 per cent in October and September, according to Reuters calculations based on official data released...
China may look to roll out its property tax scheme to the cities of Guangzhou, Nanjing, and some second and third tier cities in the country's midwest, the Shanghai Securities News reported on Friday, quoting a government researcher. The government "won't rule out the possibility of implementing the tax" in Guangzhou, Nanjing, and second and third tier cities in the midwest region, said Mr Jia Kang, head...
China's home prices fell for a fourth month in December as the government prolonged a crackdown on speculation that risks deepening the slowdown in the world's second-biggest economy. Property values in 100 major Chinese cities dropped 0.25 per cent to 8,809 yuan (S$1,800) per sq m in December from November, according to the China Real Estate Index System and online real-estate brokerage SouFun...
Some local governments in China are considering measures to fine-tune property curbs and may propose these tweaks during next year's National People's Congress, the 21st Century Business Herald reported yesterday. While key cities such as Beijing, Shanghai and Qingdao have decided to extend home-purchase limits and continue property-tightening measures next year, other local governments are mulling...
China must maintain its policy stance against property market speculation to drive money back into the real economy or else it faces the risk of home prices rebounding, senior government economists wrote in comments published yesterday in the official People's Daily. A range of government curbs slowed property transactions sharply in October and put a cap on housing price inflation but data released...
Chinese home prices are at a turning point and banks are concerned about a possible chain reaction if they fall by 20 per cent, the central bank said yesterday. "Real estate investment growth eased, developers' cash flows tightened, land transactions and prices fell," the People's Bank of China (PBOC) said, adding that "there are early signs that property prices are at a turning point." Chinese home...