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Properties in Spain - Spanish properties for sale - Buy property in Spain Home Property search Existing freehold New development Properties-by-email Choosing a property New or existing? Resource Centre Real life stories Newsletter archive Costa del Sol Area guides Map Weather Costa Cálida Area guides Map Weather Costa Almería Costa Blanca Costa Tropical Costa de la Luz Mortgage calculator Why VIVA? VIVA Services VIVA Lettings Sell your property VIVA careers VIVA partners Contact VIVA Find an office FREEPHONE from the UK: 0800 298 9594 From Spain: (+34) 952 899 190 Llamadas en Castellano: (+34) 952 899 196 Email: info@vivaestates.com At VIVA we've helped thousands of home - hunters find their place in the sun - and we're ready to do the same for you. We offer an unrivalled range of Spanish property from the Costa del Sol and Costa Clida , and our friendly team of experts is always on hand to answer any questions you may have. You wont find another agent quite like VIVA. Watch our DVD trailer and order your copy today! Why not check out our top ten tips for buying in Spain, or find out why Spain is such a great place to buy then our financial checklist will help you prepare. Thousands of properties in Spain to suit any taste and budget. Existing freehold properties >> New developments >> Find out how VIVA’s fantastic Travel Service can save you time and money when you take a trip to southern Spain. VIVA Travel Service Get the best Spanish properties straight to your inbox every week! Register for properties-by-email Sign up to our monthly email newsletter for advice, tips and ideas on buying in Spain. Sign up to our newsletter Order your FREE DVD and buyers guide - the perfect introduction to the region. Watch the DVD trailer and order your copy now! Costa del Sol info pack >> VIVA Resource Centre Read about moving to Spain, living abroad and everything you need to know about buying property here. Resource Centre >> Before you choose your Spanish property, take a look at our area guides: Alhaurín el Grande | Benalmádena | Estepona | Fuengirola | Málaga | Marbella | Mijas Mijas Costa | Nueva Andalucía | Puerto Banús | San Pedro de Alcántara | Sotogrande Torremolinos | Coín | Córdoba | Granada | Nerja | Ronda | Sevilla | Sierra Nevada | Tarifa Cartagena | La Manga | Mar Menor | Murcia useful links | privacy policy

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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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