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 Chinese Second-tier Cities Are Ready for Real Estate Investment- Chinese Second-tier Cities Are Ready for Real Estate Investment
- October 15, 2010
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The Chinese government has announced a new round of cooling measures which appeared to take effect as the overall value of transactions plunged 60% q-o-q to US$19.46bn, according to a recent research by DTZ.
China has ordered banks to impose a 30% deposit on home loans and stop lending for third or more properties as part of a new move to curb soaring real estate prices.
As a result, the number of land deals fell by 60% and 46% in first-tier cities and second-tier cities, respectively. Second-tier cities recorded US$15.32bn worth of transactions in Q2, compared to that of US$4.13bn in the first-tier cities.
"As the first-tier cities, such as Beijing and Shanghai, were experiencing limited ...
- View more at: http://www.1888pressrelease.com/chinese-second-tier-cities-are-ready-for-real-estate-investm-pr-248900.html
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