The Chinese government is preparing much stricter rules to stabilize housing prices, and the annual meetings of China’s top legislature (NPC) and top advisory body (CPPCC) starting this week may become a turning point for the real estate market, Shanghai Securities News reported.
China’s watchdogs on banks, securities and land resources may act together to curb [...]
The U.S. media say a Chinese couple bought Michael Jackson’s luxury house in Las Vegas for $3.1 million (21.2 million yuan). Compared with the price of Jackson’s house, China’s housing price is unbelievably high. And hence, China should recognize the risk in the real estate industry, says an article in Xinhuanet. Excerpts:
The house of deceased [...]
World Bank economists yesterday warned about the risks of asset bubbles in China even as the government tries to hold back excessive lending and keep prices stable.
Asset price inflation, or increases in housing prices in particular, is potentially “very dangerous” for China because they are self-reinforcing, made possible by “very cheap credit”, said Hans Timmer, [...]
The General Office of the State Council, China’s cabinet, Sunday issued a notice that required central governmental departments and local governments to strengthen management, stabilize market expectations and facilitate stable and sound development of the real estate market.
“With the recovery of the real estate market, such problems as excessively rising house prices have recently emerged [...]
For those who expect recent government measures to stanch rising home prices, the jury is still out.
Two things point to why the measures are not yet working: The newly released data on home prices stating that China’s property prices rose at the fastest pace in 18 months in December, and the fact that the government [...]
Housing prices in China’s 70 large and medium-sized cities rose 7.8 percent in December 2009 from a year earlier, and were up 1.5 percent compared to the previous month, said the National Bureau of Statistics (NBS) on Thursday.
The property price increase stood at 5.7 percent in November year-on-year.
Prices of new houses in December rose 9.1 [...]
