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  • Aug 30, 2014
  • Updated: 5:02pm

Real estate policy

PUBLISHED : Friday, 15 April, 2011, 12:00am
UPDATED : Friday, 15 April, 2011, 12:00am

CURBING PRICES

April 5, 2011 Central bank increases interest rates again;

March 18 Mainland raises banks' required reserves for sixth time since November, to tame inflation;

January 27 Shanghai, Chongqing introduce property tax;

January 26 Mainland raises down payment on second homes to 60 per cent, number of homes each family can buy is restricted;

December 25, 2010 Mainland raises mortgage rates for loans from housing provident funds, raises benchmark interest rates;

October 19 Surprise interest rate rise, first time in three years;

September 29 Down payment of at least 30 per cent required for all mortgages, banks to halt all mortgage lending for third homes;

August 5 Lenders to test impact of fall in house prices of up to 60 per cent in key cities, banks to stop extending mortgages for third-home buyers in four of the cities;

April 15, 2010 Measures include rise in down payments on second homes to 50 per cent;

December 9, 2009 Individuals must own their homes for five years to be eligible for sales tax exemption. Mainland says it will increase supply of lower-cost housing.

U-TURN TO SUPPORT MARKET

December 17, 2008 Measures include cuts in taxes;

November 7 Mainland announces 4 trillion yuan (HK$4.75 trillion) two-year stimulus package;

October 22 Policy changes;

Since mid-September Preferential housing mortgage rate cut five times, in line with interest rates cuts;

Second half, 2008 Many local governments announce measures.

MEASURES TO CURB PRICES

June 7, 2008 Central bank again raises amount lenders must hold in reserve by a full percentage point;

January 16, 2008 Proportion of deposits banks must hold in reserve raised again;

September 28 Down payments for second homes raised to 40 per cent;

August 7 Mainland bans foreign investors in mainland real estate from borrowing offshore.

January 2007 Tax changes.

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