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Property agents abandon China's resort island as sales plunge on cooling measures


  • Economy
  • Wednesday, 13 Jun 2018

But new measures in April restricting non-residents from buying homes on the island, where non-locals normally comprise about 80 percent of purchases, have caused sales to plunge.

But new measures in April restricting non-residents from buying homes on the island, where non-locals normally comprise about 80 percent of purchases, have caused sales to plunge.

HONG KONG: Tough measures to cool the property market in China's resort island of Hainan have put the brakes on a real estate boom and underscore the policy risks developers and investors face as the government tries to rein in prices.

Home prices in Hainan, known for its resort-lined beaches, recorded China's second-fastest monthly price increase in April, spurred by Beijing's commitment to promote the island province as a tourism hub and free trade zone.

Economy , Property

   

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