Chinese Developers Plunge After Officials Tighten Housing Curbs
- Eight cities rolling out additional cooling measures
- Tightening dashes speculation that government had done enough
Chinese Developers Plunge on Curbs
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Chinese property stocks plunged in Hong Kong after a raft of mainland cities added housing curbs, wrongfooting investors betting that the government’s next step would be to ease restrictions.
Eight cities including Chongqing and Nanning rolled out curbs over the weekend, with most banning home resales within two to three years of purchase, the official Xinhua News Agency reported. Shanghai-based Tospur Real Estate Consulting Co. said six more may follow suit, without naming them.