China Property

China’s property market has surged in recent years. After prices jumped 25 per cent in 2009 alone, the central government imposed austerity measures, including lending curbs, higher mortgage rates and restrictions on the number of homes each family can buy.

Market watchers expect transactions to fall this month as soaring prices and strict enforcement of the 20pc capital gains tax coupled with the increase in down payment for second homes have dampened buying interest.

China homebuying fever set to cool as curbs bite

The latest round of cooling measures this month is expected to slow down homebuying on the mainland after scorching sales in March. Prices of new homes climbed in 68 out of 70 cities in March from February, according to figures released by the National Bureau of Statistics - the highest number of cities since September 2011.