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| Shaun Rein |
The BBC:
Some analysts said the strict rules had resulted in a short supply of new homes, driving up prices.
The new measures include higher transaction taxes, restrictions on purchases of multiple homes in some cities as well as higher down payments.
"After the government unveiled the curbs in the residential market, many real estate developers shifted their focus on developing commercial projects," aid Shaun Rein managing director at China Market Research Group.
"That has seen the supply of residential property slow down drastically.
"But demand for new homes is still strong, especially from those looking to buy their first-home or upgrade to a bigger property," he added.
New house prices in Guangzhou posted the biggest jump, up 17% from a year earlier, while Beijing and Shanghai saw prices rise by 14% from a year ago, according to data released by National Bureau of Statistics on Sunday.More at the BBC.
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.
China Weekly Hangout
Can China innovated, asked the +China Weekly Hangout on October 1, with political scientist +G. E. Anderson and China consultant at-large Janet Carmosky. Moderation by +Fons Tuinstra of the China Speakers Bureau.
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| Janet Carmosky |
Are foreign firms having a hard time in China? That is the question the +China Weekly Hangout will address on Thursday 22 August, with as panelists China veteran-at-large Janet Carmosky, CEIBSbusiness professor Richard Brubaker and international lawyer Nathan Kaiser. You can read our announcement here, or register directly at our event page here.
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