Homepage
PR Newswire
15-01-2011, 10:18 PM
January 15, 2011, 1.27 pm (Singapore time) By Busibess Times
China Wuhan limits housing buy, Shaanxi to follow suit
BEIJING - The central Chinese city of Wuhan has issued rules allowing each household to buy only one new apartment in the downtown area, effective from Jan 15, the Shanghai Securites News said on Saturday, joining other big Chinese cities to curb property prices.
The government of the northwestern province of Shaanxi will also start to restrict housing purchase in select cities within the year, the newspaper said.
Housing prices in major cities soared by more than a fifth in 2010, according to the China Real Estate Index System (CREIS), run by Soufun , China's biggest online real estate company.
Beijing has since last year taken a number of steps, including curbing land prices, to cool its red-hot property market and to combat asset bubbles and counter inflows of speculative funds.
A long-debated property tax will soon be launched on a trial basis in the southwestern Chinese city of Chongqing, covering both new and existing homes, city mayor Huang Qifan was quoted as saying on Wednesday by state television earlier this week. -- REUTERS
China Wuhan limits housing buy, Shaanxi to follow suit
BEIJING - The central Chinese city of Wuhan has issued rules allowing each household to buy only one new apartment in the downtown area, effective from Jan 15, the Shanghai Securites News said on Saturday, joining other big Chinese cities to curb property prices.
The government of the northwestern province of Shaanxi will also start to restrict housing purchase in select cities within the year, the newspaper said.
Housing prices in major cities soared by more than a fifth in 2010, according to the China Real Estate Index System (CREIS), run by Soufun , China's biggest online real estate company.
Beijing has since last year taken a number of steps, including curbing land prices, to cool its red-hot property market and to combat asset bubbles and counter inflows of speculative funds.
A long-debated property tax will soon be launched on a trial basis in the southwestern Chinese city of Chongqing, covering both new and existing homes, city mayor Huang Qifan was quoted as saying on Wednesday by state television earlier this week. -- REUTERS