Beijing Limits Foreign Home Ownership – AP

From AP:

Foreigners in Beijing will be limited to buying a single home for their own use under new curbs imposed amid efforts to slow a surge in housing costs, newspapers reported Saturday…

China’s government is trying to restrain a jump in housing prices and cool an investment boom that Chinese leaders worry could spark inflation or a financial crisis.

Beijing has mainland China’s largest population of long-term foreign residents, including tens of thousands of Western and Asian business people, diplomats and others. The reports gave no indication whether other cities would impose similar curbs.[Full Text]

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