wisepowder: China's Local Authorities Curb Secondary Housing Prices in Crackdown on Speculation

China's Local Authorities Curb Secondary Housing Prices in Crackdown on Speculation

6 Apr 2021 at 08:28pm
China's Local Authorities Curb Secondary Housing Prices in Crackdown on Speculation

Fitch Ratings-Hong Kong/Shanghai-25 March 2021: The reference home prices set on Shenzhen's secondary-residential home market underscore Chinese policymakers' commitment to keeping the housing sector stable, says Fitch Ratings in a new report.To get more news about China property market 2021, you can visit shine news official website.

There is a notable price gap between the secondary and primary markets in Tier-1 cities, which has stemmed from local authorities capping prices on new projects, while leaving secondary-home prices to be largely market driven. This has led to speculative purchases.

Secondary housing has dominated the overall home sales by volume in most Tier-1 cities due to increased scarcity of residential land amid continued population influx, while its share still diverges among Tier-2 cities.Reproduction or retransmission in whole or in part is prohibited except by permission. All rights reserved. In issuing and maintaining its ratings and in making other reports (including forecast information), Fitch relies on factual information it receives from issuers and underwriters and from other sources Fitch believes to be credible.
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