China tells speculators not to hope for relaxed curbs on property purchases
Beijing — China warned property speculators against holding false hopes for a price rally, in a report on Monday by state news agency Xinhua that said authorities would not loosen curbs on buyers to spur investment even as the economy slows. Since 2016, authorities have introduced various tightening measures to rein in prices in hundreds of Chinese cities, including restricting multiple home purchases and raising the bar for mortgage lending. While property price gains have become more modest, the overall market proved relatively resilient, as many investors exploited regulatory loopholes and turned to smaller and less-restricted cities. Optimism has also been high as they bet on local governments’ reluctance to trigger a market correction, as muncipalities heavily rely on revenue from real estate. “Speculative buyers, land revenue addicts, and even the entire society need to recognise the general trend and lose the illusion that the regulation will be relaxed due to the downward pr...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.