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<CN Home>Tianjin Tightens Controls on New Home Prices; 'Overly Low' Prices May Face Online Transaction Curbs: Report
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Tianjin’s relevant authorities recently convened a meeting with property developers to announce new measures for regulating new home prices, according to a report by yicai.com citing market sources. The rules will apply both to projects applying for new sales permits and those that already have them. Specifically, the sale prices of newly built commercial housing will be subject to standardized management. For projects with new sales permits, price fluctuations must not exceed 10% of the recorded filing price. For developments that already hold sales permits, discounts of more than 10% must be reported in writing, and discounts exceeding 15% will result in the suspension of online transactions. That being said, the report quoted staff from housing and construction committees in several Tianjin districts as clarifying that the 10% standard is not a rigid rule without any leeway, though online transactions will be restricted if prices fall too low. AAStocks Financial News |
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