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2005-05-13 New rules to curb surging real estate price 2@webnews ,#house#housing#estate#, 0 Housing Price /enpproperty-- New rules to curb surging real estate price Home News Center China New rules to curb surging real estate price (Agencies) Updated: 2005-05-13 10:48 China is taking a wide range of steps to curb surging real estate prices, using tax and other policies to discourage speculative dealings and ensure a supply of affordable housing, state media announced Thursday. Residents in Nanjing, capital of East China's Jiangsu Province, walk past a newly-constructed apartment building May 10, 2005. [newsphoto] The campaign, backed by seven government agencies, shows that Beijing recognizes it needs to make cooling the housing market a nationwide priority, the official Xinhua News Agency reported. Despite the government's powerful vested interest in a thriving property market, authorities worry that too much investment is going into the construction of luxury and commercial real estate and that speculative buying has pushed prices unsustainably high. Newspapers carried a notice by the State Council, China's cabinet, ordering local governments to make controlling property prices a major part of their economic policy. Average real estate prices rose by 14.4 percent year-on-year in 2004 and by 12.5 percent in the first quarter of 2005. Shanghai had the "most shocking housing prices in China," with average costs per square meter of over 10,000 yuan ($1,200), the Xinhua report said. Many urban Chinese own their homes thanks to housing reforms years ago, but cannot afford to buy new property. And low income families are generally priced out of a market that has focused on wealthy investors while neglecting construction of budget housing. The latest effort to cool the market involve the ministries of construction, finance, and land and resources, along with the State Development and Reform Commission, the State Administration of Taxation, China Banking Regulatory Commission and the People's Bank of China, China's central bank. The policy change that drew most attention in property crazy Shanghai was one requiring payment of a business tax the rate was not given on sales of property less than two years after purchase. It takes effect June 1. Local governments were ordered to clarify prices and housing sizes before granting land use rights, to limit credit for property deals and to confine real estate developers' profits to a maximum of 3 percent. Developers who fail to build within a year after buying land will be penalized, and those that fail to build within two years after buying property would lose their rights to the land, Xinhua said. The measures follow earlier, piecemeal steps by local governments. Last month Shanghai enacted a rule requiring home owners to pay off their mortgages before selling property and extending the time buyers must wait before taking ownership to 28 days, from the previous seven. In March, it imposed a tax on sales of property owned for less than a year. The measures have definitely had an impact. In April, sales of "second hand," or previously occupied apartments in Shanghai fell between 30 percent and 50 percent, depending on the district, compared with the month before, according to industry statistics published Thursday in the newspaper Oriental Morning Post. Close Today's Top News Top China News Central banker denies yuan revaluation on May 18 New rules to curb surging real estate price Hu, Soong join hands for Straits peace Beijing offers Taiwan more conveniences China and Japan seek to smooth relations Pressure on yuan revaluation won't work Beijing offers Taiwan more conveniences Angels of the ward, toast of the world Illegal explosive trade targeted Probe shows colliery workmen ignored laws New regulation in Dalian beggars belief Congestion takes its toll on bridge Go to Another Section select hot link News Center China World Business Life Sports Most Popular Photo Gallery Story Tools Related Stories Efforts to control housing prices continue House prices to maintain robust growth Housing policies pre-empt speculators Policies failing to get a grip on housing speculation China's housing prices up 14.4% last year China's housing price hike reasonable? Housing prices surge in first 10 months News Talk It is time to prepare for Beijing - 2008 Find Suppliers Trade Leads Firm Directory Product Directory China Products Gold Suppliers Hot Products Hot Buys New Products Country Search Trade Shows Advertisement

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Mortgages, VA Loans, Home Loans, Debt Consolidation, Refinancing contact us home MORTGAGE LOAN AND RESEARCH The categories below will help lead you to a great list of sites that will provide you with all of the information you will need if you are looking to get a mortgage or home loan, a debt consolidation loan, or if you would like to refinance you current loan. We have searched the internet and have compiled a list of all of the best financial sources for you. MORTGAGES This is a list of great sites that will give you a variety of information about Mortgages . You will be able to find sites with loan calculator and others that can give you Interest Rate information. VA LOANS These sites will help answer any questions you may have regarding a VA Loan as well as help you find the best rates on a VA Loan. You may also get prequalified online. Find out what benefits the VA Administration is providing Veterans. Get sources for Lenders who specialize in VA Mortgages. HOME LOANS These sites will help you get the best value on your home loan and new home purchase. Find out how much money you can afford to spend on a house based on your monthly payments as well as how much you can qualify for. DEBT CONSOLIDATION These sites will show you how much money you could save by getting a debt consolidation loan. There are many advantages to this type of loan and the savings to you could be substantial as they have been to thousands of other Americans who have taken advantage a debt consolidation loan to help with credit card bills and other financial issues. REFINANCING Interest rates fluctuate on a monthly basis and it is a good idea to determine if current rates could save you money on the life of your loan. Even if rates on not better than what you current have, you could refinance your current loan to get cash-out. Mortgages VA Loans Home Loans Debt Consolidation Refinancing Apply Now!

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Search for new homes and get cash back | New Home Construction -- BUY A HOME SELL A HOME HOME LOANS NEW HOME CONSTRUCTION ABOUT US MY ACCOUNT Find iNest Featured New Homes by State iNest, a subsidiary of RealEstate.com, specializes in helping buyers of newly constructed homes. Use iNest to find new homes from leading home builders and get 1% cash back following purchase ($2,000 on the purchase of a $200,000 home). Start your new home search by clicking on a state below. Area: Please Choose AZ-Phoenix AZ-Tucson CA-San Diego CA-Stockton CO-Colorado Springs CO-Denver CO-Fort Collins/Loveland DC-Washington D.C. FL-Jacksonville FL-Orlando FL-Sarasota FL-Southeast Florida FL-Southwest Florida FL-Tampa GA-Atlanta GA-Chattanooga IL-Chicago IL-Rockford IL-Southern Illinois IN-Fort Wayne IN-Indianapolis IN-South Bend MA-Boston MD-Baltimore MI-Detroit MI-Grand Rapids MI-Otsego MN-Minneapolis-St.Paul NC-Charlotte NC-Greensboro/Winston-Salem NC-Raleigh-Durham NM-Albuquerque NV-Las Vegas OH-Akron/Canton OH-Cincinnati OH-Cleveland OH-Columbus OH-Dayton OR-Portland PA-Baltimore PA-Philadelphia PA-Pittsburgh SC-Greenville-Spartanburg TN-Chattanooga TN-Jackson TN-Knoxville TN-Memphis TN-Nashville TX-Austin TX-Dallas-Fort Worth TX-Houston TX-Rio Grande Valley TX-San Antonio UT-Salt Lake City VA-Richmond WI-Madison WI-Milwaukee Price Range: Please Choose $100,000 - $150,000 $150,000 - $200,000 $200,000 - $250,000 $250,000 - $300,000 $300,000 - $400,000 $400,000 - $500,000 $500,000 - $600,000 $600,000 - $700,000 $700,000 - $800,000 $800,000 - $900,000 $900,000 - $1 Million $1 Million + Is Your State Not Listed Above? Your best option is to find a REALTOR ® through RealEstate.com and you may receive a gift card worth up to $1,000 or more.* 1. Choose a Real Estate Company 2. Consult a Relocation Director 3. Close with that REALTOR ® *There is no incentive offered for home purchases or sales less than $75,000. Rebates based on 6% commission. Terms and Conditions Please note: iNest is a wholly-owned subsidiary of LendingTree,LLC. Both iNest and LendingTree, LLC. are acting in their capacities as licensed real estate brokers. For more information on iNest's real estate licenses, please visit www.internest.com/xyz/disclosure/index.asp and for more information on LendingTree, LLC's real estate licenses, please visit www.lendingtree.com . Buying a Home | Selling a Home | Homes for Sale | Credit Report & Score | House Prices at Domania New Home Construction | Find a Mover | Find a REALTOR ® | Home Financing | Real Estate Learning Center Customer Service | Publications | For the Media | News Releases | Join Our Real Estate Network | Post Home Listings Privacy | Security | Terms of Use | Jobs | Disclosures and Licenses | Sitemap | Loans | Commercial Real Estate Houses for Sale in: Atlanta | Austin | Boston | Charlotte | Chicago | Dallas | Denver | Houston | Las Vegas | Los Angeles Miami | Minneapolis | New York | Philadelphia | Phoenix | San Antonio | San Diego | San Francisco | Seattle Washington, DC | Real Estate in More Cities LendingTree technology and processes are patented under US Patent Nos. 6,385,594 and 6,611,816. © 1998 - Real Estate.com, a service of LendingTree, LLC. All Rights Reserved.This site is directed at, and made available to, persons in the continental U.S., Alaska and Hawaii only. Conversion to LendingTree, LLC We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin. REALTOR ® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS ® and subscribes to its strict Code of Ethics. Not all of the real estate professionals participating in the "Agent's Competing" program are REALTORS ® , which are members of the National Association of REALTORS ® . The Home Depot ® is not affiliated with LendingTree, LLC. The Home Depot ® is a registered trademark of Homer TLC, Inc. RealEstate.com is not sponsored by or affiliated with the parent franchisor companies of any of the participating members of its network. Partner Sites: Citysearch | Expedia | Hotels.com | Ticketmaster.com | Hotwire.com | Entertainment.com | Match.com Home Shopping Network | ReserveAmerica | LendingTree.com | iNest | ServiceMagic | Ask Jeeves | Gift Ideas Mortgage Calculator | Refinance at GetSmart | LendingTree Mortgage | Free Online Credit Report | Home Equity Loans

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