Eight cities in China toughened control measures for real estate transactions

Almaty. September 26. Silkroadnews – Eight cities in China have tightened controls on real estate transactions, China Plus news portal reported.
“The second-tier cities of Xi’an, Chongqing, Nanchang, Nanning, Changsha, Guiyang, Shijiazhuang and Wuhan have tightened housing controls, with most banning home sales within two to three years after purchases,” the report reads.
It is reported that in Shijiazhuang newly bought houses will be banned for sale within five years, and in Wuhan, realtors were warned not to have prejudice against buyers purchasing housing in a mortgage. According to analysts, the ban on sale is an effective measure in fighting against market speculation.
A new round of tightening in the field of buying and selling real estate, started by eight cities, showed the authorities will not change their determination to control housing prices.
It is noted that in March Xiamen became the first city in the country, which imposed restrictions on the sale of housing. Its example was followed by more than 40 cities.
According to the publication, this time the tightening mainly touched the provincial capitals, the similar measures, as expected, will be introduced in the cities of the second- and third-tier cities.