Government efforts to cool down the nation's red-hot property market are unlikely to have a major impact on China's building materials sector, according to a report from the China Building Material Circulation Association (CBMCA).
China's disciplinary watchdog has released a set of rules outlining punishment for Party members in leading positions meddling in the real estate industry, in an effort to uproot corruption in the field.
China Vanke Co offered a price cut of as much as 800 yuan per square meter for two buildings of a housing project it has jointly developed with COFCO, the Economic Information Daily reported.
Stricter loan requirements might lead to a weakened property market and price decline in the short term, but more diversified types of housing is the solution to China's property market dilemma, economists say.
No bubble has been seen in the city's property market despite an unusual surge in prices last year, the government said Friday.
China may issue regulations on widening the scope of the real estate tax (also known as property ownership tax) before May 20, an unnamed expert told the 21st Century Business Herald, but an official from the country's taxation bureau declined to comment on this matter.
Many Wenzhou residents who used to be keen on investing in real estate have now looked to gold as a new channel to absorb their cash, the National Business Daily (NBD) reported.
The Shanghai municipal government may release detailed regulations for the property sector in two weeks, in line with central government policies, to curb housing speculation and soaring prices in the local market, an industry insider said on Wednesday.
China's property prices rose by a record 12.8 percent year-on-year in April, due to a comparatively low base in 2009 and a time lag for tightening real estate policies to take effect.
Beijing's residential housing prices dropped 8000 yuan per square meter on average a month after China issued tough property measures to cool the red-hot property market, the Beijing News reported Tuesday.
China's property market has slowed down under tightening policies, and this has begun to cool off related sectors such as the steel, cement and home furnishing industries, the China Business News reported Monday.
Chinese property stocks may face further decline amid short-lived rallies despite the current low valuations created by tough government policies, analysts said.
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