Connect with us
The clever new way to send money abroad

China

China to continue curbs on property market in 2013

China announced that controls on the property sector will continue in 2013. In order to prevent over-investment from property buyers, China’s Ministry of Housing and Urban-Rural Development said recently that controls on the property sector will continue in 2013

Published

on

China announced that controls on the property sector will continue in 2013. In order to prevent over-investment from property buyers, China’s Ministry of Housing and Urban-Rural Development said recently that controls on the property sector will continue in 2013.  This announcement was made amidst reports of the housing market’s steady recovery over the last few months.

The world’s second largest economy has put in place tightening measures since 2010 to curb its red-hot property sector and to ease increasing public discontent over its skyrocketing home prices. These measures include higher down payment and additional property taxes.

According to the latest annual Chinese wealth report from the Boston Consulting Group and China Construction Bank Corp., some 28% of Chinese investors faced huge losses in the real estate market in 2012. About 3% of these investors saw losses of more than 30%.

Ding Yi, a developer specialising in luxury mansions in Wenzhou in the eastern province of Zhejiang, said: ‘Those property investors who purchased houses after 2009 have to [incur] losses of more than 30% if they want to sell their properties now.’

However, most experienced property investors were not as severely affected as those with less experience, who certainly have ‘learned a lesson’, said Ding. He added that the market has cooled dramatically after the measures were put in place, suggesting that most investors nowadays are staying out of the property market.

Click to comment

Leave a Reply

Economics

China’s new three-child policy highlights risks of aging across emerging Asia

Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.

Published

on

Street vendor in Bangkok

Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.

(more…)
Continue Reading

China

Clear skies over Asia’s new foreign investment landscape?

Published

on

Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.

(more…)
Continue Reading

Most Read

Recent