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New property curbs in China
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Hulumas
Supreme |
19-Apr-2010 12:49
Yells: "INVEST but not TRADE please!" |
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Both are also "tahan laaaah" NO PROBLEM one "Laaaaah"
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AnthonyTan
Elite |
19-Apr-2010 12:23
Yells: "patience" |
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Wah pian, singapore property I oso cannot afford lah, u talk abt tiong kok property. |
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Hulumas
Supreme |
19-Apr-2010 12:16
Yells: "INVEST but not TRADE please!" |
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CHINA property PSM is still < Singapore property PSF. Hence, I personally consider is bubbling but far from now to burst and still ample of room to up surge, whaever Chinese government placing any decelerating upward measure in the long run, at least another decade!
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jchong71
Member |
19-Apr-2010 11:12
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What's New: In the latest efforts to crack down on real estate speculation amid concern about asset bubbles, China has raised the down-payment requirement on second-home mortgages to at least 50% from 40%. In addition, the government also reiterated that an extra 10% should be adopted on interest rates for these homes. The details were announced last night after a State Council meeting chaired by Premier Wen Jiabao on Wednesday. For first-time buyers of apartments larger than 90 sqm, a minimum 30% down payment must be paid. For those who are buying three or more houses, we understand that even higher requirements on both down payments and interest rates will be levied. Our View: We believe that the latest measures reflect Chinese government's lingering concern over surging property prices given its determination to squeeze out speculators from the overheated housing market. Moreover, the new policy would also help reduce banks' potential risks to bad loans in case of a market correction. At the same time, China plans to more than double its land supply for housing development this year. Under an annual land plan announced yesterday by the Ministry of Land and Resources, more than 70% of the total will be for affordable housing, renovating shanty home areas and small- and medium-sized apartments. Further, it will continue to give credit support to first-time buyers, especially buyers of small and medium apartments. According to the National Bureau of Statistics, China's urban property prices rose by 11.7% in March, which is the biggest YoY gain since July 2005. In Shanghai, average price of new homes stood at RMB19,767 (or US$2,894) psm in March while that of existing properties, mainly houses, climbed to a record RMB16,200 psm during the same period. Some industry analysts are speculating that the central government may step in with other more drastic measures such as tightened credit policies and the introduction of a property tax going forward. Action and recommendation: As China faces increasing risks over asset-price bubbles, we think the Chinese government may be adopting a more hawkish stance towards its macro and real-estate polices. Already, we have seen knee-jerk reaction in some Chinese property counters such as Yanlord, Ying Li today. Singapore developers which have big exposure to China's real-estate market such as Capitaland and Keppel Land may be affected as well. |
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