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Follow on Google News | China bans overseas investment in villa projectsIn an effort to slow record high property prices and control inflation, the Chinese government has banned foreign investment in building and management of villas.
By: Rebecca Smith The change to the ‘Catalogue Guiding Foreign Investment in Industry’ guidelines, last revised in 2007, now lists foreign investment in the construction and management of villas in the ‘prohibited’ The state planning National Development and Research Commission and the Ministry of Commerce announced the revisions, which are designed to gauge public opinion before the end of April. "This is just a gesture you see from time to time. Supposedly if you want to cool the market, you should increase the supply. It is counter-intuitive to try and limit money going into the sector, commented David Ng an analyst at the Royal Bank of Scotland. "There will be some impact, but it will not be very big. Foreign exchange curbs and difficulties in acquiring land already limited some foreign investment in villas,” said Albert Lau, managing director of Savills Shanghai. Most real estate experts have reacted to the new rules by stating that foreign investors are undeterred by China's policy tightening spree. However, before the ‘restricted’ Recently, the U.S. based China Business Council recommended that the secondary property market in China should be moved to the ‘encouraged’ Article... http://blog.oceanvillasgroup.com/ Rebecca Smith Ocean Villas Group - http://www.oceanvillasgroup.com # # # Ocean Villas Group are specialists in lifestyle and investment property worldwide and are committed to supporting investors in both the emerging and established property markets across the globe. http://www.oceanvillasgroup.com End
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