As China Restricts Home Sales, Netizens Ask If This Serves the People’s Needs · Global Voices
▻https://globalvoices.org/2017/10/02/as-china-restricts-home-sales-netizens-ask-if-this-serves-the-peoples-
To cool down the overheating property market, China has banned the resale of apartments within two to five years of purchase in more than 50 cities.
The restriction was first introduced in April 2017 covering mainly 14 first and second tier cities. However, the latest round of announcements on September 22 and 25 has extended the regulation to many third tier or even fourth tier cities.
As the tiered city system is used to classify Chinese cities so as to formulate and fine tune economic and political strategies based on local consumer behaviour, income level, politics, and local trends. The implementation of home-sale restriction in all four city tiers implies that it is a national strategy in dealing with property bubbles.