Daily News and Transactions across Greater China from Knight Frank
Property curbs to remain in force
Jul 23, 2012
The Ministry of Land and Resources and the Ministry of Housing and Urban-Rural Development says in a joint notice that China won't relax its property tightening measures and local governments around the country should continue to implement them strictly to prevent a price rebound.
The notice just came after official data showed the country's property market is showing signs of rebounding even though Premier Wen Jiabao and other senior government officials have repeatedly said the central government would stick to rein-in policies.
In June, new home sales, excluding government-funded affordable housing, jumped 41% from May to RMB 531.3 billion across the country while the number of cities seeing a month-on-month increase in home prices also rose to its highest in 11 months, according to the National Bureau of Statistics.
Knight Frank Greater China Property Market News Summary