Friday, April 30, 2010

Beijing limits home-buyers to one new apartment

Beijing limits home-buyers to one new apartment

The Chinese capital Beijing has issued rules limiting families to one new apartment purchase as authorities try to rein in rampant property speculation and soaring prices, state media said Friday. "For the time being, one family can buy only one new home in the city," China News Service said, citing the municipal government. Beijing authorities also ordered banks to refuse home loans to people who cannot prove they have paid taxes and made social security contributions in the city for at least one year, the report said.

Posted by mark @ 12:51 PM (1522 views)
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3 thoughts on “Beijing limits home-buyers to one new apartment

  • Spotthedog says:

    Whilst it seems a bit heavy-handed, it’s good they recognise a problem unlike our head in the sand government

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  • charlie brooker says:

    That the communists are taking this action shows they properly appreciate the jeopardy that a nation’s fortunes are placed in by over-heating property markets.

    The West has once again hamstrung itself by falling under the banksters spell; the Chinese have learnt from the West’s mistakes and know they’ve been given a golden opportunity to rise to greater global prominence.

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  • But the credit is still easy? So people can pay more for the one apartment, inflating the price. I’ve just woken from a nap, but (and) this sounds utterly retarded.

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