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Shenzhen sees new property restriction

08-31-2010 09:37 BJT

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A new property market regulation will come into effect in Shenzhen on Wednesday. Some expect it to help curb skyrocketing housing prices. But analysts say prices are not the standard by which to judge the regulation's efficiency.

Last week, Shenzhen's real estate market witnessed rising trade volumes, for both new and pre-owned properties. Experts believe the increase is because some homebuyers and speculators don't expect stricter market controls in the future.

But a new and more specific property market regulation will come into effect this Wednesday. Many expect it will have positive impact on the market, but that factors other than price should be considered.

Chen Aipin, Director of Shenzhen Property Management Institute said "Prices are not only dependent on the policy. It's actually an exchange activity happening on the market, so many factors need to be considered. I don't think there'll be a big fluctuation on the market, unless the system and buyers' sentiment change drastically."

Other insiders say the new rules will help further regulate and gear towards the sustainable development of the housing market.

Editor:Xiong Qu |Source: CNTV.CN

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