Two Chinese Cities Relax Rules To Shore Up Property Markets

61
1335

Two Chinese Cities Relax Rules To Shore Up Property Markets

Two Chinese cities loosened rules this week to make it easier for individuals to purchase houses or obtain residency, effectively expanding a pool of potential home buyers to prop up moribund residential property markets.

China has clamped down on property speculation since 2016 to contain a market that begun to bubble. But policymakers became increasingly mindful not to sink the market entirely – a pillar for the broader economy – at a time when an economic downturn was underway.

A district in Nanjing, capital of eastern Jiangsu province, said on Friday that among individuals with high education qualifications, diploma holders from vocational institutes are now allowed to buy homes in that area. Previously, only degree holders were eligible.

Separately,Zhengzhou, capital of central Henan province, has introduced a new policy allowing individuals to apply for a residency permit after renting a home for a year, the government-backed newspaper Dahe reported on Thursday. Previously, long-term renters had no such option.

But critics say such relaxation could undermine the central government’s efforts to control property speculation, artificially propping up prices.

Chinese top leaders on Thursday reiterated that “homes are for living, not for speculation”.

“Due to the differences in population size and structures, land resource, housing supply and demand in different places, property policies should be city-based, and can also make appropriate adjustments depending on the effect,” state-run Economic Daily said in a commentary on Friday.

“But any housing policy should be based on ‘homes are for living, not for speculation’, not the other way around,” it warned.

Election Results 2019 Tories On Course To Win Majority Exit Poll

On Wednesday, a city in Jiangsu province abruptly reversed a decision to remove a ban for property resales imposed more than two years ago. The removal of the ban – which lasted for just a day – briefly fanned speculation that more cities could follow suit.

https://www.reuters.com

Such policy reversals point to the pressure on local governments to shore up slowing real estate – critical to local government finances – while not appearing to be running counter to the central government’s war on speculative buying.

China’s house prices are expected to grow 3.1% next year, the lowest over a calendar year since 2015, a Reuters poll showed.

Reporting by Lusha Zhang and Ryan Woo; Editing by Simon Cameron-Moore

Two Chinese Cities Relax Rules To Shore Up Property Markets

61 COMMENTS

  1. Its like you read my mind! You seem to know so much about this, like you wrote the book in it or something. I think that you could do with some pics to drive the message home a little bit, but instead of that, this is magnificent blog. A fantastic read. I’ll certainly be back.|

  2. Hey! I know this is kinda off topic however , I’d figured I’d ask. Would you be interested in trading links or maybe guest authoring a blog article or vice-versa? My blog goes over a lot of the same subjects as yours and I feel we could greatly benefit from each other. If you might be interested feel free to send me an e-mail. I look forward to hearing from you! Awesome blog by the way!|

  3. My spouse and I stumbled over here by a different web page and thought I might check things out. I like what I see so now i am following you. Look forward to looking into your web page for a second time.|

  4. Just desire to say your article is as astounding. The clarity in your post is just excellent and i could assume you’re an expert on this subject. Well with your permission allow me to grab your feed to keep updated with forthcoming post. Thanks a million and please continue the enjoyable work.

  5. After looking into a few of the articles on your web page, I really like your way of writing a blog. I book marked it to my bookmark webpage list and will be checking back in the near future. Please check out my web site as well and let me know how you feel.|

  6. What’s Taking place i’m new to this, I stumbled upon this I have discovered It positively useful and it has aided me out loads. I hope to give a contribution & aid different customers like its helped me. Good job.

  7. Heya! I realize this is sort of off-topic but I had to ask. Does managing a well-established website such as yours require a massive amount work? I’m brand new to operating a blog however I do write in my diary everyday. I’d like to start a blog so I can easily share my own experience and thoughts online. Please let me know if you have any recommendations or tips for brand new aspiring bloggers. Appreciate it!|

  8. Magnificent beat ! I wish to apprentice while you amend your site, how can i subscribe for a blog website? The account aided me a acceptable deal. I had been a little bit acquainted of this your broadcast provided bright clear idea

  9. Excellent site you have here but I was wondering if you knew of any forums that cover the same topics discussed here? I’d really like to be a part of online community where I can get responses from other experienced people that share the same interest. If you have any recommendations, please let me know. Thanks!|

  10. Fantastic site you have here but I was curious about if you knew of any forums that cover the same topics discussed here? I’d really like to be a part of community where I can get opinions from other experienced individuals that share the same interest. If you have any suggestions, please let me know. Thanks a lot!|

  11. I am not sure where you are getting your information, but great topic. I needs to spend some time learning much more or understanding more. Thanks for magnificent info I was looking for this info for my mission.|

  12. Wow that was unusual. I just wrote an extremely long comment but after I clicked submit my comment didn’t appear. Grrrr… well I’m not writing all that over again. Anyhow, just wanted to say excellent blog!

  13. Hello, i think that i saw you visited my blog thus i came to “return the favor”.I am trying to find things to improve my web site!I suppose its ok to use some of your ideas!!|

  14. When I initially commented I clicked the “Notify me when new comments are added” checkbox and now each time a comment is added I get four e-mails with the same comment. Is there any way you can remove me from that service? Thanks a lot!|

  15. I will immediately take hold of your rss as I can not find your email subscription link or newsletter service. Do you’ve any? Kindly permit me realize in order that I may subscribe. Thanks.|

  16. Hi there! This post couldn’t be written any better! Reading this post reminds me of my old room mate! He always kept chatting about this. I will forward this post to him. Fairly certain he will have a good read. Many thanks for sharing!

  17. I’ve been browsing online more than 3 hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. In my view, if all webmasters and bloggers made good content as you did, the net will be much more useful than ever before.

LEAVE A REPLY

Please enter your comment!
Please enter your name here