The trend in smaller cities is quite different. In April, prices for new houses in third-tier cities expanded 0.4 percentage points faster than March, with smaller cities such as Qinhuangdao and Baotou leading the gains.
"Control of the housing market in major cities has had a spillover effect on smaller cities, boosting demand," said Ding Zuyu, chief executive of E-House China, a real estate agent.
Extending restrictions from major cities to nearby smaller cities can relieve the spillover somewhat and avoid irrational speculation in these cities, said Ding.
In an interview with Xinhua last month, Ning Jizhe, vice head of the national economic planner, said while progress had been made in containing the housing market, there were still some "deep-rooted structural problems."
"There is still upward price pressure in first and second tier cities, and it will take a long time for third and fourth-tier cities to digest their inventories," he said.
Once curbs are relaxed, prices are likely to rise again, he said.
To maintain long-term stability, an expansion of anti-risk policies such as those seen over the weekend, is very likely, analysts said.
According to Zhang, property sales restrictions will soon expand to more than 50 cities, with many third and fourth-tier cities to be included.
【国际英语资讯:Economic Watch: China steps up property controls in smaller cities amid market divergence】相关文章:
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