Criteria for the Implementation of Restrictions on Property Purchase Restrictions in Second and Third Tier Cities Released
The Ministry of Housing and Urban-Rural Development (MOHURD) has issued a document requiring all provinces to report on their progress in implementing regulation of the real estate market in the first 6 months of this year by Aug 20. MOHURD has also released a set of 5 criteria that will be used by second and third-tier cities in determing whether they need to introduce purchase restrictions. According to the Ministry, if a certain city meets at least 2 of these 5 criteria, they should consider implementing purchase restrictions. The criteria include the pace at which house prices are increasing and also local satisfaction with the implementation of policies aimed at putting a lid on price increases. It's expected that more purchase restrictions will be implemented in many second and third tier cities in Aug.
Source
Economic Observer Online
http://www.ok153.com/2011/0817/208948.shtml
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The Ministry of Housing and Urban-Rural Development (MOHURD) has issued a document requiring all provinces to report on their progress in implementing policies aimed at reining in rapid prices rises in China's real estate market in the first 6 months of this year by Aug 20. MOHURD has also released a set of 5 criteria that will be used by second and third-tier cities in determining whether they need to introduce purchase restrictions. According to the Ministry, if a certain city meets at least 2 of these 5 criteria, they should consider implementing purchase restrictions. The criteria include the pace at which house prices are increasing and also local satisfaction with the implementation of policies aimed at putting a lid on price increases. It's expected that more purchase restrictions will be implemented in many second and third tier cities in Aug.
Source
Economic Observer Online
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