Financial China

Property rules set to curtail activity

  • Published 24 Feb 2011

New regulations limiting home buying by non-residency permit holders are set to damp transaction volumes and ease prices in key cities.

As of Feb 22, a total of 15 cities had responded to the State Council's instructions on Jan 26, to push through new rules to cool the property market. The cities included Beijing, Shanghai, Tianjin, Qingdao, Nanjing, Chengdu, Changchun, Nanning, Taiyuan, Ningbo, Guiyang, Harbin and Shijiazhuang, according to city government websites. Domestic news reports estimate that more than 50 other cities are going to adopt similar policies and this seems likely as it is in line with the State Council's original guidelines.

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