China Places Restrictions To Cool Overheated Property Market
One of the regions fastest growing property market's China has announced though its Land Ministry that measures will be taken to slow down the overheated property market which has currently risen sharply on market speculation. It's been reported that residential projects in smaller cities will be restricted to 7 hectares, medium size cities at 14 hectares and bigger cities to 20 hectares.
In the past there were no implications or limitations on the size of land and the corresponding development. Regional property continues to rise back of Hong Kong, China and Singapore leading the way. Bangkok fueled mainly through domestic demand has seen recovery in the 3rd quarter and expectations for further increases in the 4th quarter of the year.