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China’s property prices rise again in April

 Property prices in China posted the biggest year-on-year jump in nearly five years in April, official data showed Tuesday, amid persistent fears about a growing bubble in the real estate sector.

Prices in major cities rose 12.8 percent on year in April, the National Bureau of Statistics said on its website, marking the biggest year-on-year rise for a single month since the survey was widened to 70 cities in July 2005.

 The statistics bureau had previously collected data on 35 major cities. The pace accelerated from the 11.7 percent increase in residential and commercial property prices recorded in March and a 10.7 percent rise in February.

 The figure came after a top housing official said last week that China’s recent measures to rein in soaring property prices had been effective in stabilising the real estate market. “The trend of excessively fast rising residential property prices in some cities has been curbed, sparking a wide, positive response in society,” Qi Ji, vice minister of housing and urban-rural development, said in a online chat. Chinese authorities have issued a slew of measures in recent weeks as they seek to prevent the property market overheating and derailing the world’s third largest economy.

 The authorities have tightened restrictions nationwide on advance sales of new property developments, introduced new curbs on loans for third home purchases and raised minimum down-payments for second homes.

 By AFP


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Malacca Malaysia Summarized

This site shows you Melaka Malaysia seen through the eyes of a retiree - Hantu Putih in Malay... - staying in Malaysia under the MM2H program: a 10 year multiple entry visa to Malaysia.

Malaysian are very friendly, Malaysia has no winter and you can stretch your European dollars even more in Melaka than in the capital Kuala Lumpur or in the MM2H town of preference: Penang.

Malaysia My 2nd Home

Malaysia My 2nd Home (MM2H) is a 10 year multiple entry tourist visa for retirees, planning to retire and buy property in Malaysia.

Read the latest news and updates about the Malaysia My 2nd Home Programme.

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