BEIJING: China’s plans to stabilise its runaway property market face a stiff challenge after home prices surged to fresh record highs in October, with the measures likely to take a few years to have their desired impact.
Home prices in large Chinese cities have continued to set records despite a four-year long government campaign to cool the market, adding to the threat of a price bubble and social unrest as housing becomes increasingly unaffordable.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!