Spain – China
Faced with the constant increase in housing prices in major Chinese cities, local authorities have taken measures to curb them.
In Beijing, to buy a second home you will have to pay between 60 and 80% of the cash price, and mortgages of more than 25 years are prohibited. Other large cities have imitated the capital and imposed various restrictions. They range from preventing non-resident investors from buying houses to prohibiting divorces so that false separations are not cheated to obtain a second residence. The real estate bubble in large cities is the result of low interest rates and the relaxation of taxation on purchases and sales, measures that the authorities have taken to stimulate the economy. But the real estate sector, as in many other parts of the world, remains a safe haven in China and, so far, investors in large cities have not suffered a “burst” of the bubble. On the other hand, this has happened in many small and medium-sized cities, where apartments for sale are very numerous.
Source: CESCE
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