{"id":24613,"date":"2016-09-01T15:10:39","date_gmt":"2016-09-01T08:10:39","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-was-how-shanghai-home-buyers-reacted-to-last-weeks-tightening-talks\/"},"modified":"2016-09-01T15:26:13","modified_gmt":"2016-09-01T08:26:13","slug":"this-was-how-shanghai-home-buyers-reacted-to-last-weeks-tightening-talks","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/this-was-how-shanghai-home-buyers-reacted-to-last-weeks-tightening-talks\/","title":{"rendered":"This was how Shanghai home buyers reacted to last week\u2019s tightening talks"},"content":{"rendered":"


\nWord about possible cooling measures agitate buyers in a hot housing market
\nRush hour in China. Home buyers were on the edge after hearing about the Shanghai government\u2019s plans to tighten credit. sevenke \/ Shutterstock
\nSpeculation over government plans to impose tightening measures on Shanghai\u2019s overheating housing market sent home hunters on a panic buying spree last week, the South China Morning Post reports.
\nIn a span of seven days, edgy home buyers catapulted the amount of space sold in the city to 555,700 square meters, representing a 93 percent sales growth and breaking a five-month record, data from the Shanghai Homelink Real Estate Agency shows. A government website was \u201ccrippled\u201d in the process.
\nThe cooling measures in question allegedly call for a hike in minimum downpayment requirements for first-time home buyers, who otherwise have mortgage records, from 30 percent to 50 percent. For households looking into a mortgage for a second property, the required downpayment would supposedly climb from 50 percent to 70 percent by early September. Changes in downpayment requirements are also said to be afoot for home buyers on their third mortgage applications.
\nMore: Meet Shanghai\u2019s most exciting design duo
\nOn Monday, the Shanghai government officially dismissed hearsay about credit tightening but the tension has already done damage. \u201cMany of them are desperate for owning their own apartment despite the lofty home prices have already cost them years of savings for down payment and incurred several million yuan of debts in future,\u201d a broker with Century 21 China Real Estate told the Post. \u201cThey have reasons to make a rush to seal the transaction so as to dodge potentially tightened home buying policies.\u201d
\nAccording to the National Bureau of Statistics, average new home prices in Shanghai rose 27 percent in July from a year earlier. Land values are also climbing, with a lot near Jing\u2019an district recently selling for a record CNY100,315 (USD15,000) per square metre.
\nRead next: Asia has 5 of the 10 hottest luxury markets \u2014 here\u2019s where
\n
\nSource : property-report.com
\nRead more…This was how Shanghai home buyers reacted to last week\u2019s tightening talks<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Word about possible cooling measures agitate buyers in a hot housing market Rush hour in...<\/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-24613","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\/p75ss1-6oZ","jetpack-related-posts":[{"id":24046,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/shanghai-to-douse-flaming-market-with-new-measures\/","url_meta":{"origin":24613,"position":0},"title":"Shanghai to douse flaming market with new measures","date":"August 26, 2016","format":false,"excerpt":"\r The property market in China\u2019s largest city is on fire. Could it be the next Vancouver? \u2018Land king\u2019 Ronshine snapped up a parcel in Shanghai\u2019s Jing\u2019an district at a record price in August. r.nagy \/ Shutterstock With Shanghai\u2019s home values shooting to fiery levels, the Chinese government is reportedly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28665,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/without-warning-9-chinese-cities-were-slapped-with-property-curbs\/","url_meta":{"origin":24613,"position":1},"title":"Without warning, 9 Chinese cities were slapped with property curbs","date":"October 5, 2016","format":false,"excerpt":"\r Unannounced cooling measures for panic-buying-prone market Wangfujing Street, Beijing. testing \/ Shutterstock.com Nine cities across China have suddenly introduced a range of cooling measures to their property markets over the weekend, even before home buyers could go on a preemptive buying spree. The measures rolled out across the mainland\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-residential-market-to-stay-strong-in-2017-says-citigroup\/","url_meta":{"origin":24613,"position":2},"title":"China\u2019s residential market to stay strong in 2017, says Citigroup","date":"September 12, 2016","format":false,"excerpt":"\r Don\u2019t expect any tightening in liquidity, assures leading property research analyst Shanghai lights. iakov kalinin\/Shutterstock China\u2019s housing market will remain strong next year according to Citigroup, despite reaching new highs in 2016 with the central government making moves to maintain market sentiment while clearing oversupply in smaller cities. \u201cUnsold\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":24613,"position":3},"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":63050,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/with-robust-demand-shanghais-property-cooling-measures-are-unlikely-to-last\/","url_meta":{"origin":24613,"position":4},"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":58432,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-government-should-lift-cooling-measures-to-free-up-supply-in-secondary-market\/","url_meta":{"origin":24613,"position":5},"title":"Hong Kong government should lift cooling measures to free up supply in secondary market","date":"June 20, 2017","format":false,"excerpt":"\r It was astonishing to learn that the Hong Kong government has decided to launch a new series of cooling measures to distort market demand for properties instead of seeking to boost home supply by phasing out the restrictive measures on second-hand home sales and purchases. Last month, the Hong\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\/24613"}],"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=24613"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24613\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}