29 Mar '16, 3am

#singapore #property New property cooling measures in major Chinese cities: Chinese aut...

Property prices in Shanghai soared by 21 percent in February 2016. Chinese authorities introduced new property cooling measures in Shanghai and Shenzhen last week, after residential prices in those first-tier cities skyrocketed in February, reported Reuters and Shanghai Daily . Latest data released by the National Bureau of Statistics shows that property prices in Shanghai soared by 21 percent last month, while prices in Shenzhen surged by 57 percent on an annual basis. As a result, city officials decided to implement more stringent curbs. In Shanghai, buyers of second homes must pay a down payment of at least 50 percent for normal homes, and a minimum of 70 percent for non-normal homes. Previously, they only had to pay a 40 percent deposit for both types of properties. Normal homes within the Inner Ring Road are categorized as being not bigger than 140 sqm and priced unde...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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