openPR Logo
Press release

China bans overseas investment in villa projects

04-18-2011 11:55 AM CET | Industry, Real Estate & Construction

Press release from: Ocean Villas Group Pte. Ltd.

China bans overseas investment in villa projects

China bans overseas investment in villa projects

Beijing, China: In further efforts to slow record high property prices and control inflation in China, the Chinese government has banned all foreign investment in the construction and management of villas.

The change to the ‘Catalogue Guiding Foreign Investment in Industry’ guidelines, last revised in 2007, now lists foreign investment in the construction and management of villas in the ‘prohibited’ category. Previously this was listed as ‘restricted’.

The state planning National Development and Research Commission and the Ministry of Commerce announced the revisions, which are designed to gauge public opinion before the end of April.

"This is just a gesture you see from time to time. Supposedly if you want to cool the market, you should increase the supply. It is counter-intuitive to try and limit money going into the sector, commented David Ng an analyst at the Royal Bank of Scotland.

"There will be some impact, but it will not be very big. Foreign exchange curbs and difficulties in acquiring land already limited some foreign investment in villas,” said Albert Lau, managing director of Savills Shanghai.

Most real estate experts have reacted to the new rules by stating that foreign investors are undeterred by China's policy tightening spree.

However, before the ‘restricted’ regulation came into force in 2007 foreign investment from outside Asia accounted for thirty three per cent of property investment in China. In 2008, that more than halved to twelve per cent, before dropping to just two per cent in 2009. This only improved slightly in 2010 when overseas investment rose to seven per cent.

Recently, the U.S. based China Business Council recommended that the secondary property market in China should be moved to the ‘encouraged’ category to open up the market to property developments controlled by foreign businesses. But, as property prices remain high, there is no indication China will relax any of its real estate regulations for foreign investors any time soon.

Article... http://blog.oceanvillasgroup.com/china-bans-overseas-investment-in-villa-projects/

Rebecca Smith
Ocean Villas Group - http://www.oceanvillasgroup.com

Rebecca Smith is investment and real estate journalist for Ocean Villas Group, based in Singapore.

Ocean Villas Group are specialists in lifestyle and investment property worldwide and are committed to supporting investors in both the emerging and established property markets across the globe.

Visit our blog for further property and investment news worldwide.... http://blog.oceanvillasgroup.com

Level 31,
6 Battery Road,
Raffles Place,
049909
Singapore

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release China bans overseas investment in villa projects here

News-ID: 171343 • Views: 1237

More Releases from Ocean Villas Group Pte. Ltd.

Vera Wang bags Steve Hermann property in Beverley Hills, Los Angeles
Celebrity New York fashion designer Vera Wang has splashed out US$9.2 million on a Steve Hermann designed property in Coldwater Canyon, Beverley Hills, Los Angeles. Hermann bought the 408m2 house in June 2008 for US$5 million. He spent the next two years completely redesigning and renovating the 1967 built property at a cost of US$3 million. Two new bedrooms were added. The ceilings were raised to a height of 3.6 metres. The
Asia Pacific worlds cheapest for building property
The Annual Construction Cost Comparison Report by EC Harris Research has revealed that countries throughout the Asia Pacific region have significantly lower building costs than their counterparts in The West, despite experiencing substantial economic growth. Now in its seventh year, the report compares building costs per square metre in fifty six countries worldwide against construction costs in the South of England. India and Sri Lanka have the lowest construction costs in the
Jade Jagger puts Spanish property up for sale
Spain: The daughter of Rolling Stones frontman Mick Jagger, Jade Jagger, has put her Spanish property up for sale. The seventeenth century farmhouse is located on the North West Coast of the Balearic Island of Ibiza near the village of Sant Joan de Labritja. Dubbed by Jagger as her own “private paradise”, the Spanish property sits on top of a mountain overlooking the Mediterranean Sea. And from its secluded location it’s hard to
Spain cuts new property tax in half to lift Spanish real estate industry
Madrid, Spain: The Spanish Government has cut value added tax on new property in Spain by 50 per cent with immediate effect. The reduction in VAT (Spanish - IVA) from eight per cent four per cent on new build Spanish properties came into force on August 19th and will continue until the end of the year. Announcing the decision Jose Blanco, Minister of Development for Spain, said he hoped the new measures

All 5 Releases


More Releases for China

China Attestation
China is a growing Asian country and day by day many people migrate into the country for pursuing their personal needs. But going into China is not an easy task, we have to face some legal steps ahead. Let us define all this legal action in a single word China attestation. China government placed its embassies all over the world for ensuring the trustworthiness of the immigrant’s certificate. There
Packaged Water in China
ReportsWorldwide has announced the addition of a new report title Packaged Water in China to its growing collection of premium market research reports. Packaged Water in China industry profile provides top-line qualitative and quantitative summary information including: market share, market size (value and volume 2011-15, and forecast to 2020). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Synopsis: Essential resource
Agrochemicals Market in China
ReportsWorldwide has announced the addition of a new report title China: Agrochemicals: Market Intelligence (2016-2021) to its growing collection of premium market research reports. The report “China: Agrochemicals: Market Intelligence (2016-2021)” provides market intelligence on the different market segments, based on type, active ingredient, formulation, crop, and pest. Market size and forecast (2016-2021) has been provided in terms of both, value (000 USD) and volume (000 KG) in the report. A
Global Color Steel Tile Market 2017 - South China, East China, Southwest China, …
Color Steel Tile Market Research Report A market study based on the " Color Steel Tile Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Color Steel Tile Market 2017’. The research report analyses the historical as well as present performance of the worldwide Color Steel Tile industry, and makes predictions on the future status of Color Steel Tile market on the basis
Telecom Cloud Billing Services Explore In Regions (South China, East China, Sout …
Big Market Research has added a report, titled, “China Telecom Cloud Billing Services Market Size, Status and Forecast 2022.” The report offers an extensive information and analysis of sales, production, revenue, key manufacturers, drivers & opportunities, and competitive scenario. Moreover, current industry trends and growth prospects are explored along with thorough analysis of each segment for the historic period, 2012–2017 and the forecast period, 2017–2022. The research also offers insights
Restaurant Markets in China
China’s demand for Restaurant has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption and capital investment for over two decades. This new study examines China’s economic trends, investment environment, industry development, supply