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China details guidelines for home purchase restrictions

0 Comment(s)Print E-mail CNTV, August 22, 2011
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China's top housing authority has detailed five guidelines to help local governments decide whether they should introduce curbs on house purchases. The move comes as more smaller cites see ever-increasing property prices.

One of the guidelines is to see if a city is amongst the leading gainers in the monthly report by the National Bureau of Statistics, which tracks house prices in seventy major cities. It also includes second-tier cities, which saw residential property prices increase sharply between June this year and the end of last year.

Meanwhile, increasing transaction volume is another standard to be considered. It also includes some tourism cities where non-locals make up a large proportion of home buyers. Last, but not least, is to include cities where local residents complain about house prices and are dissatisfied with current restrictive policies.

 

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