Local Governments in China Issue over 160 Property Control Policies since Start of 2019
Local governments around China have issued at least 160 property market control policies in their own jurisdictions so far this year following a sharp acceleration in April.
A report from Securities Daily indicates that over 60 real estate market control policies were issued by local governments around China in April, following the issuance of 15 in March, 21 in February and 68 in January, for a total of 164 such policies since the start of 2019.
The move marks a continuation of the local government property controls first launched by Beijing in early 2017 as part of efforts to cool down overheating housing markets.
Zhang Bo (张波), chief analyst with 58 Anjuke, said that nationwide real estate market transaction levels in April fell short of the preceding month, with pre-owned housing transactions in first-tier cities slipping from the peak hit in March.
Data from Centaline indicates that the real estate transaction floorspace for China’s first-tier cities fell 12% month-on-month in April, while the decline in second-tier cities was 5% and for third-tier cities 10%.