Divergent China housing markets 'pose issues'
Shanghai
CHINA'S top housing official has warned that the nation's severely divergent housing markets are posing challenges to government regulations, after stimulus intended to boost sluggish real estate investment led to a home-buying frenzy in first-tier cities.
The "substantial gap" between the nation's top cities and lower-tier regions is widening, challenging the government's regulation, Chen Zhenggao, head of the Ministry of Housing and Urban-Rural Development, said on Tuesday at a press conference during annual legislative meetings in Beijing. While home sales nationwide have stabilised and started to rebound, the inventory issue is "still serious", mainly in the third and fourth-tier areas, he said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
London's Canary Wharf sees £1.2b slashed from property values
Commercial real estate debt is back with 170% jump in sales
Chinese city of Chengdu relaxes home-buying rule to revive sales
Vanke slams Moody’s downgrade, citing shareholder support
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters