Asked by Chua
China's property market, a mainstay of the world's second-largest economy, has started to suffer a downturn that could have a knock-on effect on global trade in commodities, analysts warn.Housebuying demand has fallen across China after authorities, fearing a property bubble, banned second home purchases in places including Beijing, increased minimum down payments and trialled property taxes in some cities.At the same time, property developers have been hit by a lack of funds after the government hiked interest rates and restricted bank lending to rein in surging inflation and bring real estate prices into line. I think foreign buyers has somewhat provides a strong on the local property market, how will the China's property market situation there play-out here. No concern and no impact? appreciate your expert opinion. Thank you.
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