Banned since 2004 in China for being "too bourgeois", golf-course construction has been secretly booming, senior land superintendents said on Tuesday.
China ordered banks to set aside more deposits as reserves for the third time this year to cool a record credit expansion that has sparked the risk of asset bubbles in the world's third-largest economy.
The People's Bank of China (PBOC), the central bank, announced Sunday that it would raise the deposit reserve requirement ratio for Chinese financial institutions by 0.5 percentage points from May 10.
Beijing banned all families from buying more than one home Friday, in a tough set of restrictions designed to curb speculation and soaring home prices.
In the latest salvo aimed at its property market, China is getting ready to launch a real estate investment tool that will give investors an alternative to bricks and mortar, and move to cool a market where prices have risen at the fastest pace in five years.
China's government tightened its squeeze on the property market Tuesday, restricting pre-sales by developers, in a further measure to curb soaring property prices.
On March 11, the Ministry of Land and Resources issued a directive, saying that developers must take a 50-percent downpayment on all land put up for auction within one month after signing a contract, or they will lose the land along with their deposit.
China's top housing authority has pledged to punish property developers who deliberately raise housing prices by delaying proposed sales dates - the latest move by the government to cool the red-hot real estate market.
China's top housing authority has pledged to punish property developers who deliberately raise housing prices by delaying proposed sales dates - the latest move by the government to cool the red-hot real estate market.
Pre-sales targeted to curb property market
State Council move dampens price hikes of suburban homes
Commercial banks will be able to refuse loans to people buying their third houses in areas suffering from soaring property prices.
The central government has raised the required downpayment for a family purchasing a second house from the existing 40 percent to 50 percent, as the latest measure to curb soaring property prices and prevent growing financial risks.
The Chinese government raised down payment for people buying their second homes to a minimum of 50 percent of the property value from 40 percent, in a bid to curb speculation in the country's property market.
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