Chinese authorities dashed hopes they’re set to ease up on a campaign to tame housing prices, with the southern city of Shenzhen imposing strict new curbs on property speculators and the central government signaling a tougher stance.
Home owners in Shenzhen will have to hold a property for at least three years before being allowed to sell, according to a statement on the city government’s website late Tuesday. Local authorities also suspended home purchases by corporations and organizations, a popular loophole to bypass buying restrictions.
