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This popularity is evident in the government operated property trading centres which process property deals, change of ownership, etc. So, what is pushing the Shanghai property market and why has there recently been a spate of panic buying? While the authorities recently announced a reduction in property transaction tax and lower down payments the majority of these new policies do not relate to top tier cities such as Shanghai. Indeed desperate need of money Shanghai is one of only five mainland cities in China to enforce the one property for each non-permanent resident restriction.
When you bear in mind that government policies were introduced to assist the smaller cities which have a significant glut of property there is no doubt this change in policy will feed the Shanghai property market. In many ways this is comparable to the London property market which while part of the UK trades in a very different manner to the rest of the country. While at this moment in time there is no sign need payday loans com money quick of a reduction in demand for property across Shanghai there is no doubt that property prices cannot continue to rise at the current rate. Stock markets around the world have been extremely jittery of late with concerns that the worldwide economy is slowing and the interest rate on savings accounts is minimal to say the least. This has prompted many to invest their savings in the property market where they see greater long-term growth and rental income.
One problem facing the authorities is the fact that introducing policies to assist the overall Chinese property market, which is performing very differently to the Shanghai market, will continue to feed the frenzy for Shanghai property.
Over the last few years the Chinese real estate market has been desperate need of money volatile to say the least. On various occasions the authorities have jumped in to easy online loans increase demand and then been forced to introduce restrictions to reduce demand. This vicious circle is set to continue for many years to come unless the structural shortcomings of the Chinese real estate market are addressed.
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So, what aspects of the Chinese property market should concern investors in the longer term? Whichever way the authorities try to sell the Chinese real estate market the fact is that it is controlled by the authorities with just a whiff of capitalism to attract overseas investors. This halfway house between capitalism and socialism is a very tricky balance to desperate need of money maintain and while some might argue the Chinese authorities have been successful so far, have they? As a consequence, any significant fall in the property market would have a catastrophic impact upon the Chinese economy and set in motion a very difficult and hard to stop train of events. So, while capitalism obviously goes against the desperate need of money grain with the Chinese authorities it will need to be embraced even more going forward.
In an attempt to push people further into less densely populated areas there have been significantly restrictions on the availability of urban land for property development. If the authorities backtracked on this particular policy and effectively allowed people to live where they wanted to then perhaps property prices would be more affordable? However, this would mean the release of significant urban land banks for development. A report by the Fitch credit rating agencies perfectly puts into perspective suggesting that 800 million square metres of new housing would be required each and every year up to 2030 to fulfil demand for city properties. Despite the fact we have seen a significant increase in Chinese investment in real estate personal cash loans markets such as Canada, UK, US, etc the Chinese authorities do not make it easy and there are various restrictions for Chinese nationals. Restrictions on investing abroad, restrictions on investing at home and restrictions on the availability of land for development seem to have created significant pent-up demand which is pushing some local real estate markets to very uncomfortable levels. It is common knowledge that the Chinese real estate sector has been struggling for some time with a significant oversupply of properties and a lack of buyers.
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