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Home  /  Picture of the Day  /  Pic of the Day by Category  /  Economy 财经   /  八成市出台住房‘限购令‘房地产市场降温 - Eight Cities Announce their Apartments 'Purchase Limit Policy', Real Estate Market is Cooling Down
八成市出台住房‘限购令‘房地产市场降温 - Eight Cities Announce their Apartments 'Purchase Limit Policy', Real Estate Market is Cooling Down print version
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Eight cities, Beijing, Shanghai, Shenzhen, Hangzhou, Nanjing, Ningbo, Fuzhou and Xiamen already announced implementing the residence 'Purchase Limit Policy'. Media of Guangzhou has informed that the city real estate market will soon announce new detailed regulations. Prior to this, relevant state departments separately announce the 'limitation policy' in the apartment market, which will be sterner than the limit that has been announced on April this year.

The statistic information of Beijing Real Estate Trade Management Website show that between October 3rd and October 10th, that new commercial buildings throughout the entire city (including economy applicable buildings and restricted price buildings) number is 1383, a 64% drop compared to last week's 3867 buildings; the number of second hand buildings is 1594, more than a 65% drop compared to last week. On September, among 30 big and med-size cities, more than two thirds have had a rise in the volume of business (for example Beijing, Nanjing, Shenzhen and other important cities), but on October, the real estate market in most cities has cooled down rapidly.

Yang Hongxu, head of the synthesis research department of Changing Residence Real Estate Research Institute, when receiving media inquiry, said that limiting purchase has to do with the administrative order and suspending house purchase could have a notable effect. He predicted that house prices in Shanghai will reach a stable point within the next six months.

Former director of the Finance Development Unit in the Finance Research Institute of China's Academy of Social Sciences, Mr. Yuan, points out that the key point is deciding in advance upon a policy for credit currency. The measurement of restricting purchase is merely a way for local governments to take call to account in front of central authorities. It is remained to be seen whether it is effective.

[1]  限购令 (xiàn gòu ling) - 限 - limit, 购 - purchase, 令 - Command (here in the sense of 'policy'), a term signifying new regulations in the real estate market, restricting the number of new apartments one can own (not allowing a person to own more than one apartment or adding significant taxes in such cases), in an attempt the prevent the continuous rise in apartment prices, as experienced in recent years.

[2] 楼市 (lóu shì)- 楼 - 楼房 apartments, building; 市 - 市场. Apartment or real estate market.

[3] 北京市房地产交易管理网 (běijīng shì fángdìchǎn jiāoyì guǎnlǐ wǎng) - Beijing Real Estate Trade Management Website, a government website providing info about Beijing's real estate market, governing apartment prices to some extent.

[4] 中国社科院 (zhōngguó shèkēyuàn) - China's Academy of Social Sciences. A national institute, established in 1977, specializing in economy, philosophy, history and more.

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