China Toughens Housing Policy as Shenzhen Imposes More Curbs
- Shenzhen slaps three-year delay on flipping properties
- Politburo reiterates determination to keep lid on home prices
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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.