Xi seeks to tame China's wild property market with rental push
The government is trying to control spiralling home prices in major metropolitan areas such as Shanghai
Shanghai
CHINESE President Xi Jinping has unleashed the world's biggest experiment aimed at taming runaway property prices.
After he used a milestone Communist Party Congress in October to push a housing model that emphasises renting, a flurry of activity is under way by developers, banks, local governments and even the biggest stock exchange.
The push is the first of a package of programmes, including a long-awaited property tax, poised to unfold over several years to rein in one of the world's hottest real estate markets.
"China's property market is on the brink of treme…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction
US Judge approves US$418 million settlement that will change real estate commissions
In San Francisco, a home renovation can become a battle royale
Country Garden extends bonds to avoid first local default
Daughter of Chinese steel-and-nickel tycoon picks up S$84 million Bin Tong Park bungalow