08 Mar '11, 9am

China's govt introduces measures to curb property bubble

China's govt introduces measures to curb property bubble

BEIJING : China's central government has imposed a series of regulations to curb the country's property bubble. The measures have sent ripples across the property market as buyers and sellers wait and see how things will unfold before making a decision. Owning that spanking new apartment is now harder with the Chinese government's moves to rein in soaring property prices. The measures include increasing interest rates and limiting the number of purchases. Property prices are expected to fluctuate as developers and buyers figure out how to strike the best deals amid the regulations. Dickson H Wong, CEO for Northern and Southwest China at Centaline Property Consultants, said: "Because of the measures, property owners may hold off selling their properties. Developers are also waiting to see how the market will react." Housing prices in China have continued to climb, as many r...

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