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Stricter rules on housing prices expected
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RAPID growth in home prices in Chinese cities — and particularly in higher-tier ones — could draw further regulatory tightening, Moody’s predicted yesterday.
“Residential home prices for China’s 70 major cities extended their rising trend in April. First-tier cities continued to see a strong price growth, although the upward momentum on a month-on-month basis is moderating, particularly for Shenzhen,” said Franco Leung, a Moody’s vice president.
The number of cities where prices gained annually rose to 46 in April from 40 in March, and those posting annual price gains of above 5 percent rose to 17 from 14 in the same period.
Rapid price growth in Shenzhen, Shanghai, Nanjing and Wuhan has already seen regulatory tightening in their housing markets in late March. Shenzhen posted the highest price rise, at 63.4 percent, annually in April, followed by Shanghai’s 34.2 percent, Moody's said.
“We believe tightening in policy measures could be targeted at cities with strong price growth, but will not be applied uniformly nationwide,” Leung said.
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