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Possible home purchase limit in Yanjiao city near Beijing

08-29-2011 12:46 BJT

As second and third tier cities in China have begun to implement their limit on home purchasing, real estate market there already reacts. In Hebei Province's Yanjiao, a small town on the east of Beijing, many people may be affected.

Many homes are selling very well recently in Yanjiao, a small town on the east side of Beijing.

A sales manager in Yanjiao, Hebei Province said, "We received many customers recently. They are wondering whether they will be not qualified for home purchasing."

Salespeople say around 70 percent of their consumers come from Beijing. They work in the capital during the day, then come back for sleep in the night. As home prices in Yanjiao are much cheaper compared to Beijing, many buyers want to buy homes before the purchasing limit.

A home buyer in Yanjiao, Hebei Province said, "I can't afford homes in Bejing. There's no buying limit in Yanjiao as of now, so I want to purchase housing now."

Meanwhile, as many buyers are not local residents, developers are concerned about their future customers.

Zhang sen, a sales manager in Yanjiao, Hebei Province said, "Non-Hebei residents are not allowed to apply for home mortgages. That pushes away many customers who work in Beijing.

Many developers start to adjust their selling strategy. As they predict most of their future customers would be from Hebei Province, they now put more effort in the region.

Meanwhile, some other people may also suffer from the possible buying limit. Ms. Li is hired by developers to give out home brochures on the street. Recently, she's worried about future that she may loss her job.

But analysts warn as many cities haven't implemented purchase limit yet, people should wait for a clear sign. They especially note customers should not buy a home because of panic.

Editor:Li Wanran |Source: CNTV.CN

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