Asian countries have managed only to slow down the growth of housing prices

10.06.2011 00:45
Articles about real estate | Asian countries have managed only to slow down the growth of housing prices Efforts by the authorities in Asia to resolve the situation in the housing market have brought only a slight effect. The cost of real estate continues to hold at the same high level, but in most cities, especially Beijing and Shanghai, the rise in prices has slowed.

According to experts the agency CB Richard Ellis, in the first quarter of 2011 rents for luxury properties in Asia grew more slowly than prices for the sale of housing. During the first three months of rental properties has risen by an average of 2,3%. However, demand for houses and apartments in major cities in the region with thoron residents remains high, reports Property Wire.

Related article: Real Estate in London banging records: $ 79,155 per square meter

In its forecasts, analysts note that the high demand for property may be lowered a new turn "cool" actions of governments of China and Singapore. In this case, the developers agreed to give discounts to potential buyers of houses and apartments to support the sale of its facilities. Before the year is expected to moderate growth in prices for luxury properties in Asia, and rental rates, analysts said CB Richard Ellis, should remain stable, according to "".

As previously reported, the Chinese government has repeatedly stated its intention to reduce the price of the property market. To achieve these objectives, the government took the decision to raise interest rates on loans and restrictions on property purchase by foreigners. Also, the country's president promised to support nation-building economic housing.

The Singapore Government is also unable to cope with the growth in property prices. In order to curb speculation in the property market has increased the size of the first installment in the provision of a second mortgage loan and a tax on the sale of real property owned by the taxpayer at least three years. However, until these steps have not led to visible results.
Content tags: Overseas property
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