{"id":24046,"date":"2016-08-26T17:12:06","date_gmt":"2016-08-26T10:12:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghai-to-douse-flaming-market-with-new-measures\/"},"modified":"2016-08-26T17:16:47","modified_gmt":"2016-08-26T10:16:47","slug":"shanghai-to-douse-flaming-market-with-new-measures","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghai-to-douse-flaming-market-with-new-measures\/","title":{"rendered":"Shanghai to douse flaming market with new measures"},"content":{"rendered":"


\nThe property market in China\u2019s largest city is on fire. Could it be the next Vancouver?
\n\u2018Land king\u2019 Ronshine snapped up a parcel in Shanghai\u2019s Jing\u2019an district at a record price in August. r.nagy \/ Shutterstock
\nWith Shanghai\u2019s home values shooting to fiery levels, the Chinese government is reportedly readying a new round of cooling measures.
\nEarlier this month, the Shanghai branch of the China Banking Regulatory Commission had met with banks to discuss several tightening measures, The Business Times reported, based on a tip from anonymous sources.
\nBloomberg, also citing people familiar with the matter, reported that these measures will include requiring first-time buyers to fork out 50 percent of the property\u2019s value as downpayment instead of the current 30 percent. The commission also plans to increase the loan-to-value ratio for second home purchases to 70 percent.
\nShanghai officials acted to rein in renegade price growth as early as March with measures that include a requirement for prospective buyers to pay income taxes and social insurance for a minimum of five years.
\nMore: High-end Shanghai office rents experience slowed growth
\nIn data by the National Bureau of Statistics, average new home prices in Shanghai climbed 27 percent in July from a year earlier. Beijing and Shenzhen are not far behind, with increases of 21 percent and 41 percent, respectively.
\nShanghai land values fetched an average floor price of CNY21,866 (USD3,300) per square metre this year, compared with CNY9,842 (USD1,475) per sq m in 2015, The Business Times reports.
\nOn 17 August, a land parcel near Jing\u2019an district sold at CNY100,315 (USD15,000) per sq m to Ronshine China Holdings Ltd \u2014 setting a new precedent for residential lots across the nation.
\nKnight Frank has ranked Shanghai next to Vancouver, a city that has seen its share of conflagration from Chinese buyers, in its latest Prime Global Cities Index.
\nRead next: Meet Shanghai\u2019s most exciting design duo
\n
\nSource : property-report.com
\nRead more…Shanghai to douse flaming market with new measures<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The property market in China\u2019s largest city is on fire. Could it be the next...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24046","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6fQ","jetpack-related-posts":[{"id":63050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/with-robust-demand-shanghais-property-cooling-measures-are-unlikely-to-last\/","url_meta":{"origin":24046,"position":0},"title":"With robust demand, Shanghai\u2019s property cooling measures are unlikely to last","date":"August 8, 2017","format":false,"excerpt":"\r In Shanghai, any amount of austerity measures to cool the Shanghai home market will likely be short-lived as there\u2019s one factor they can\u2019t beat \u2014 the robust and sustainable housing demand. Authorities in the mainland\u2019s commercial capital has rolled out a series of stringent measures from home purchase restrictions\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53583,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghais-april-home-sales-hit-4-year-low\/","url_meta":{"origin":24046,"position":1},"title":"Shanghai\u2019s April home sales hit 4-year low","date":"May 3, 2017","format":false,"excerpt":"\r Home transactions continued to decline in Shanghai, China\u2019s financial capital, as government cooling measures take effect and more home buyers take on a wait and see attitude. The area of new residential properties sold in Shanghai in April dropped 8.8 per cent from March to 677,000 square meters, according\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":24613,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-was-how-shanghai-home-buyers-reacted-to-last-weeks-tightening-talks\/","url_meta":{"origin":24046,"position":2},"title":"This was how Shanghai home buyers reacted to last week\u2019s tightening talks","date":"September 1, 2016","format":false,"excerpt":"\r Word about possible cooling measures agitate buyers in a hot housing market Rush hour in China. Home buyers were on the edge after hearing about the Shanghai government\u2019s plans to tighten credit. sevenke \/ Shutterstock Speculation over government plans to impose tightening measures on Shanghai\u2019s overheating housing market sent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120800,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghais-hottest-commodity-is-pre-owned-flats-as-price-curbs-on-new-projects-lead-to-scramble-in-secondary-market\/","url_meta":{"origin":24046,"position":3},"title":"Shanghai\u2019s hottest commodity is pre-owned flats as price curbs on new projects lead to scramble in secondary market","date":"June 22, 2021","format":false,"excerpt":"\r A scarce supply of new homes in Shanghai and regulatory curbs have sparked a scramble among thousands of cash-rich buyers for high-end pre-owned flats in China\u2019s financial hub, driving up the prices in secondary market to record highs.Some of the homebuyers, falling victim to new administrative measures to disqualify\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":29475,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shui-on-set-to-smash-shanghai-property-price-record-with-latest-units-in-xintiandi-expected-to-fetch-300000-yuansq-m\/","url_meta":{"origin":24046,"position":4},"title":"Shui On set to smash Shanghai property price record with latest units in Xintiandi expected to fetch 300,000 yuan\/sq m","date":"October 11, 2016","format":false,"excerpt":"\r Shui On Land\u2019s soon-to-be released Lakeville Luxe residential development in Xintiandi, Shanghai\u2019s bar and shopping district, could set record-breaking prices for the city, just as a new round of cooling measures are introduced to curb price growth. The priciest unit in the upcoming batch of 50 units at Tower\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20746,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-luxury-housing-is-on-the-up\/","url_meta":{"origin":24046,"position":5},"title":"Chinese luxury housing is on the up","date":"July 25, 2016","format":false,"excerpt":"\r Encouraged by a blossoming luxury residential market, developers eye prime tracts of land Shanghai skyline. Image credit: www.kindergeldinfo.de \u2013 Abriga Media (Flickr) If their recent splurges on plum land parcels are anything to go by, mainland China developers are showing more faith than usual in the luxury market. Recently,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24046"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24046"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24046\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24046"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24046"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24046"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}