1. LINE

      Text:AAAPrint
      Economy

      Beijing property curbs to cool preowned market

      1
      2017-03-23 08:51China Daily Editor: Feng Shuang ECNS App Download
      A housing agent helps a client complete property transactions in Beijing. (Photo/China Daily)

      A housing agent helps a client complete property transactions in Beijing. (Photo/China Daily)

      The newly released property purchasing policy in Beijing is likely to cause terminations on existing contracts and help cool down the capital's property market, according to industry insiders.

      Under the new policy, buyers who own a property in Beijing or have loan records in or outside the capital, will face an increased down payment if they want to move home or buy second properties in the city.

      "The regulation will have a more direct and obvious effect on the preowned property market," Ren Qixin, deputy general manager of Yahao Real Estate, was quoted by Beijing Daily as saying. "On Saturday, the second day after the policy took effect, only 224 preowned properties were sold, while during the previous five days, the number remained at about 1,000 every day," Ren said.

      He said under the new policy, buyers looking to trade their current houses for another one need to pay at least 80 percent of the down payment for property valued at more than 4.68 million yuan ($682,000), while most Beijing properties are valued at a higher price.

      "The average price of a Beijing property is 6 million yuan per unit, which means most houses are above 4.68 million," said Zhang Dawei, an analyst at Centaline Property.

      The policy raises the possibility that buyers could withdraw from contracts due to the financial pressure of meeting the down payment.

      "The deleveraging effect was obvious. Most preowned property buyers will have to pay 80 percent as down payment," said Ren. "It will cool down the preowned market, and slow down the sell-one-and-buy-another situation."

      Hu Jinghui, vice-president of real estate agency 5i5j, also expected a fall in market demand.

      "With reducing demand, we hope to see housing prices fall," Hu said.

      However, if buyers terminate previously agreed contracts, it will not count as a breach, said Zhang Nan, a lawyer from Zhong Yin Law Firm.

      Even after the contract is validated, if either of the party needs to terminate because of the policy, they should not be liable for the termination unless it is especially noted in the contract.

      "The seller will have to return the payment or deposit, and neither party should be fined for the termination," said Zhang.

        

      Related news

      MorePhoto

      Most popular in 24h

      MoreTop news

      MoreVideo

      News
      Politics
      Business
      Society
      Culture
      Military
      Sci-tech
      Entertainment
      Sports
      Odd
      Features
      Biz
      Economy
      Travel
      Travel News
      Travel Types
      Events
      Food
      Hotel
      Bar & Club
      Architecture
      Gallery
      Photo
      CNS Photo
      Video
      Video
      Learning Chinese
      Learn About China
      Social Chinese
      Business Chinese
      Buzz Words
      Bilingual
      Resources
      ECNS Wire
      Special Coverage
      Infographics
      Voices
      LINE
      Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
      Copyright ©1999-2018 Chinanews.com. All rights reserved.
      Reproduction in whole or in part without permission is prohibited.
      主站蜘蛛池模板: 国产精成人品日日拍夜夜免费| 3344免费播放观看视频| 毛片基地免费视频a| 亚洲国产精品va在线播放 | 毛片无码免费无码播放| 国产hs免费高清在线观看| 亚洲最大的视频网站| 精品乱子伦一区二区三区高清免费播放| 欧美大尺寸SUV免费| 久久精品国产亚洲AV麻豆~| 国产亚洲日韩在线三区| 亚洲国产精品无码中文lv| 99re6免费视频| 亚洲精品成人无限看| 高潮毛片无遮挡高清免费视频 | 亚洲视频在线观看地址| 中文字幕无线码中文字幕免费| 国产精品无码一区二区三区免费 | 精品亚洲综合久久中文字幕| 精品特级一级毛片免费观看| 日韩精品无码区免费专区| 亚洲邪恶天堂影院在线观看| 9久久免费国产精品特黄| 免费jjzz在线播放国产| 亚洲人成网站色7799| 和老外3p爽粗大免费视频| 国产伦精品一区二区三区免费迷 | 色婷婷亚洲十月十月色天| 中国性猛交xxxxx免费看| 亚洲精品99久久久久中文字幕| 亚洲AV成人一区二区三区观看 | 久热综合在线亚洲精品| 国产免费播放一区二区| 亚洲人成电影在线播放| 国产成人亚洲精品无码AV大片| 在线免费观看中文字幕| 亚洲国产乱码最新视频| www.黄色免费网站| 亚洲国产精品久久网午夜| 在线人成精品免费视频| 久久亚洲精品成人av无码网站|