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China House Prices Drop
Government regulations see Beijing property prices fall
Aug 23, 2010 - Joseph Jones
Chinese house prices are expected to drop by up to 30 to 50% in the country’s capital Beijing by the end of the year. China’s national English-language newspaper China Daily reported that the introduction of tough new legislation designed to limit the impact of speculation on what many experts predict is a property bubble that is rapidly due to collapse.

The new legislation will, amongst other things, prevent Chinese homeowners from purchasing more than one additional home. While the fall in property prices may look like a good opportunity, overseas investors should be aware that non-locals are forbidden to buy unless they have worked in the Beijing for at least a year. Meanwhile, Reuters reported the results of a Chinese bank stress test that predicted the drop in house prices would lead to a surge in bad real estate loans.
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Related Categories: Overseas

Tags: China real estate prices, overseas investors

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