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Housing restrictions here to stay

(Global Times)

08:35, October 11, 2012

Although China's housing market has seen a certain measure of recovery in the second and third quarters, no big change has bucked the overall declining pricing trend and current control measures will remain in place. Curbs on bank loans and restriction on housing purchases in big cities will continue in the coming one year or two. Therefore, the possibility that housing prices will rebound is very slim.

China adopted strict measures to prevent real estate prices from skyrocketing in April 2010. After years of intervention, the impacts of these policies are starting to show as many local governments feel the chill of the cooling market. But the central government has yet to change its position on housing prices and this round of control policies is expected to stick around over the long run. The housing market is at a critical point and if the government loosens its controls, all of its efforts will have been in vain.

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