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Beijing's property market immune to likely tightening measures in 2nd, 3rd tier cities

08-17-2011 10:52 BJT

Some property developers in second and third tier cities are ramping up their promotions, after the State Council said it would expand home purchase limits to smaller cities.

In Hebei Province's Yanjiao Economic and Technological Development Zone, which borders Beijing, 15 housing projects are set to go on sale this month. That's almost twice as much as seen in previous months.

These neighboring regions attract home buyers from the capital because their prices can be up to 50 percent cheaper. Industry insiders say, though, that policies there are unlikely to affect Beijing.

An industry insider said, "It would have a lot of influence on the local market, but that is unlikely to extend to Beijing."

An industry insider said, "The expansion of tightening measures to second and third tier cities will not have much impact on Beijing's market. Beijing mainly reacts to internal factors, such as existing policies and increasing supply."

Editor:Li Wanran |Source: CNTV.CN

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