This “houses are for living in, not for speculating on” has been out there since last December when China top leaders met up for an economic meeting. It has become a very popular slogan among either local governments and the media.
Since then, we have seen a steady increase of property curbing measures that are put in place by Chinese local governments…
Apparently this is an effort to bail out or keep afloat the ailing Chinese property market on a national scale. Unfortunately, hot markets in the first-tiered cities are still closed to foreign buyers like Shanghai. However, it is very likely that local governments in Shanghai may loosen the regulation to have more foreign buyers.
The main benefits of the change…
News on ifeng.com had it that property prices in Wenzhou have seen a 40% drop off its peak prices in the year of 2010.
Wenzhou is a special place in China’s economic landscape boasting its big population of enterpreneurs in the city. The local affluence and fortunes have found easy expression in the local property prices that may easily dwarf or belittle…
Jason Tian, the blogger, Senior Partner at Shanghai Landing Law Offices. You can reach him at: [email protected] or [email protected], or call him directly at+86-13816548421 (also his WhatsApp)
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