Here is a list of the day’s latest China real estate news collected from around the web:
- China Steps Up Support for Parts of Housing Market
China has been supporting property purchases by certain buyers to meet genuine rather than speculative demand in the past few months, as Beijing seeks ways to stimulate consumption and ease credit to stave off a hard landing for the world’s second-largest economy. The government has encouraged banks to offer lower mortgage rates for first-time home buyers, called on developers to increase construction of smaller and cheaper apartments, and is tolerating moves by some cash-hungry municipal and provincial governments to loosen property restrictions at the local level.
- China PBOC Plays Down Mortgage Policy Easing Talk
The People’s Bank of China played down talk that the government is easing up on restrictions on pricing mortgages, with a spokesman telling the official Xinhua News Agency Thursday that the bank will continue to tow the official line on housing policy. The interview with the spokesman followed reports that the PBOC is encouraging banks to lend to home buyers at the full 30% discount below the floor on benchmark mortgage rates.
- Doubling of Withholding Tax Threatens Flow of Chinese Cash to Aussie Real Estate
THE Australian government’s decision to double withholding tax for foreign investors in managed investment trusts, in tandem with the high Australian dollar, could curtail burgeoning Chinese investment in Australian real estate. Jones Lang LaSalle Shanghai-based regional director for Asia-Pacific capital markets, Greg Hyland, said a top priority for Chinese was to invest in the Australian, British, North American and Canadian property markets.
Leave a Reply