Regulator booms calms fears of real-estate bust
Not sure how assuring this is. But the measures cited in the news sound very familiar:
- Second-home restrictions: tightening of credit access for buyers of second homes
- Land supply: the government would open up for development an additional 180,000 hectares — double the amount made available in 2009
And in a related note, China’s biggest builder by square footage sold, Hengda, has announced a strategic 15% drop in price for properties they develop and sell in China. Even though 15% isn’t very much compared to last year’s run-up in prices, it would be interesting to see whether this will trigger domino effect among other builders.
Categories: News