BEIJING: A number of second-tier cities in China have rolled out property speculation curbs in an effort to cool home property sales, according to the official Xinhua News Agency and documents published by some municipal governments. Changsha has also limited property sales to non local residents to one unit per person. Additionally, Xian in Shaanxi province has asked real estate developers from Monday to report home prices to local price-monitoring departments before sale and reiterated its pledge to crack down on property price manipulation and speculation. The latest property clampdowns follow moves in June by two Chinese cities, Xian in Shaanxi and Zhenzhou in Henan province, to cool their property markets. Average new home prices in China’s 70 major cities rose 0.2 per cent in August from a month ago, data from the statistics bureau showed.

Source: New Strait Times September 24, 2017 03:45 UTC