Curbing Runaway Property Prices

China cut interest rates on June 8, to spur struggling economy. However, it is also instituting measures to stop runaway property prices. China has placed a ban on buying second homes, hiked minimum down payments and introduced property taxes in certain cities. The results are encouraging in some cities, but six cities have recorded increases in home prices despite these measures.

“Beijing has been encouraging banks to lend to first-time home buyers while at the same time seeking to clamp down on speculative demand.”
 

中国 6 月 8 日，以刺激苦苦挣扎的经济下调利率。然而，它也采取措施，停止失控的房价。中国已放置购买第二套房子的禁令、 上调最低首付款和介绍了某些城市的房产税。在一些城市，结果令人鼓舞，但六个城市有这些措施尽管房价升幅。"中国政府一直鼓励银行借给首次置业人士同时寻求遏制投机性需求。"

Reference: New home prices in most Chinese cities fell in May, Taipei Times, June 19, 2012

Photo Credit:  Donaldytong under the terms of the GNU Free Documentation License.
 

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