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Shanghai lifts home-buying curbs to boost property sector


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people were required to live there before they could buy property.

The megacity also said it would reduce the minimum down payment for commercial housing mortgages to 20 percent, as well as permit families with two or more children to buy an additional home.

Tokyo might consider implementing some of these measures to “tamp down soaring prices and rampant speculation.”

I just sold a 15-year-old apartment in Yoyogi at a price that was 39.5% higher than what I paid four years ago. The cash buyer was the very first person to view the place.

Moreover, the buyer just finalized the sale of her current apartment in the same neighborhood in a buyout by a property developer replacing her apartment block with a large, pricier housing complex.

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There are more apartments in China than people as developers were building more and more apartments which people bought for speculation than living in.

China clamped down on the speculation part, the developers were left with many unsold apartments.

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The Chinese government pushed the mantra "If you build it, they will come" to spur the construction boom

They were wrong - it turned out to be a bubble now collapsing

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