2016年CRI More Chinese cities join effort to cool down home market

 

This past Friday, municipal officials in Beijing became the latest to bow to pressure on home prices, increasing down payments for first-time purchasers to a minimum of 35 percent, one of the highest levels among China's biggest cities.

Just hours later, the neighboring municipality of Tianjin followed in Beijing's footsteps, banning people without a local hukou from buying a second property in the downtown area, as well as increasing down payments for non-residents buying properties in the city's downtown locations to over 40 percent.

Then over the weekend, the local government in Anhui's capital, Hefei, unveiled 10 new tightening¹ measures, which includes suspending sales of new properties to Hefei families who already own two or more properties.

Authorities in Shandong's capital, Jinan, are also capping people registered in that city to owning three properties.

They've also increased down payment requirements for those buying their first home to 30 percent from 20 percent.

In the city of Wuxi in Jiangsu, buyers of second homes are now required to pay a minimum 40 percent down payment, an increase of 10 percent.

Authorities in Henan's capital, Zhengzhou, are restricting residents who already own two properties and non-residents who own one to purchasing homes which are larger than 180-square meters.

Prospective² buyers in Sichuan's capital, Chengdu, are now only allowed to purchase one property in certain city districts, and those buying their second property will need to place a down payment of no less than 40 percent of the purchase price.

Zhang Dawei, analyist with Chinese real estate firm Centaline Properties, says the new policies, particularly in Beijing, are meant to send a singal to those hoping to cash-in on property speculation³.

"The tightened⁴ loan policies and the amended⁵ standards for the municipal authorities to define second-home buyers in Beijing are a strong signal, and one which hasn't been seen since the central authorities began stimulating⁶ the real estate market over a year ago. This, combined with a promise of more housing starts by the government, this should help put a lid on dramatic home price increases."

The latest stats from the National Bureau of Statistics show the average price of a new home in the 70 major cities it observers climbed by 9.2 percent in August, up from 7.9 percent annualized growth seen in July.

Yang Hongxu with market research firm E-house China says the moves being taken in China's major cities to curb⁷ housing costs are unlikely to have a major impact right away, suggesting it may take until the middle of next year for prices to stabilize⁸.

"The restrictions⁹ will curb demand. A reduction in purchases is very likely. But, it will only have a limited effect on prices, what aren't likely to drop immediately. In my opinion, prices are likely to slow down mostly through the second half of the coming year."

Meanwhile, the Ministry¹⁰ of Land and Resources says its goal of unifying¹¹ property registration¹² across the country is still on-pace to be completed by the end of this year.

Around half of the country is under the new registration system as of August.

Under the new system, property registration is handled by a single department, and is meant to stop people from finding loopholes in the system to purchase more properties.

The new registration system is also expected to pave the way for a long-anticipated property tax system.

1 tightening   

上紧，固定，紧密

参考例句：

• Make sure the washer is firmly seated before tightening the pipe. 旋紧水管之前，检查一下洗衣机是否已牢牢地固定在底座上了。
• It needs tightening up a little. 它还需要再收紧些。

2 prospective   

adj.预期的，未来的，前瞻性的

参考例句：

• The story should act as a warning to other prospective buyers.这篇报道应该对其他潜在的购买者起到警示作用。
• They have all these great activities for prospective freshmen.这会举办各种各样的活动来招待未来的新人。

3 speculation   

n.思索，沉思；猜测；投机

参考例句：

• Her mind is occupied with speculation.她的头脑忙于思考。
• There is widespread speculation that he is going to resign.人们普遍推测他要辞职。

4 tightened   

收紧( tighten的过去式和过去分词 )； （使）变紧； （使）绷紧； 加紧

参考例句：

• The rope holding the boat suddenly tightened and broke. 系船的绳子突然绷断了。
• His index finger tightened on the trigger but then relaxed again. 他的食指扣住扳机，然后又松开了。

5 Amended   

adj. 修正的 动词amend的过去式和过去分词

参考例句：

• He asked to see the amended version. 他要求看修订本。
• He amended his speech by making some additions and deletions. 他对讲稿作了些增删修改。

6 stimulating   

adj.有启发性的，能激发人思考的

参考例句：

• shower gel containing plant extracts that have a stimulating effect on the skin 含有对皮肤有益的植物精华的沐浴凝胶
• This is a drug for stimulating nerves. 这是一种兴奋剂。

7 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

8 stabilize   

vt.（使）稳定，使稳固，使稳定平衡；vi.稳定

参考例句：

• They are eager to stabilize currencies.他们急于稳定货币。
• His blood pressure tended to stabilize.他的血压趋向稳定。

9 restrictions   

约束( restriction的名词复数 )； 管制； 制约因素； 带限制性的条件（或规则）

参考例句：

• I found the restrictions irksome. 我对那些限制感到很烦。
• a snaggle of restrictions 杂乱无章的种种限制

10 ministry   

n.(政府的)部；牧师

参考例句：

• They sent a deputation to the ministry to complain.他们派了一个代表团到部里投诉。
• We probed the Air Ministry statements.我们调查了空军部的记录。

11 unifying   

使联合( unify的现在分词 )； 使相同； 使一致； 统一

参考例句：

• In addition, there were certain religious bonds of a unifying kind. 此外，他们还有某种具有一种统一性质的宗教上的结合。
• There is a unifying theme, and that is the theme of information flow within biological systems. 我们可以用一个总的命题，把生物学系统内的信息流来作为这一研究主题。

12 registration   

n.登记，注册，挂号

参考例句：

• Marriage without registration is not recognized by law.法律不承认未登记的婚姻。
• What's your registration number?你挂的是几号？