Real estate unlikely to ease up on property restrictions this year to boost economy

Real estate unlikely to ease up on property restrictions this year to boost economy
09/03/2019 , by , in INTERNATIONAL

The Chinese central government is unlikely to ease up on property restrictions this year despite the large incoming fiscal pushes to boost the country’s cooling economy. Within the government’s work report this year, the report highlighted a package of growth-oriented policies this year such as RMB 2 billion worth of tax and fee cuts but made little mention of the country’s property markets, which had previously been a lifeline for the Chinese economy.

However, after years of speculation and reckless investments into the property market that led to a surge in government debt, home prices and excessive home inventories, the government has since embarked on a crackdown of the market to curb such investments and reduce financial risk.Despite this, the Chinese central government seems committed towards keeping housing prices stable and prevent sharp price changes in either direction.

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