BUSINESS Haikou further tightens real estate controls


Haikou further tightens real estate controls

14:58, January 10, 2019

The local government in Haikou City, Hainan Province issued a new directive to further control the real estate industry and clamp down on speculative investment. 


Photo: VCG

The new regulation bars companies from buying residences in the city and also limits those who acquired the city’s household registration after April 22, 2018 to owning only one home. 

The Haikou government will also continue property price control measures. For example, the price of commercially developed housing cannot be changed within six months after its registration with authorities. 

Centaline Property analyst Zhang Dawei said Haikou’s robust new policies will further prevent investors from buying homes under the name of companies. 

Zhang also said other cities in the island province including Sanya may tighten property market controls. He expects the province of Hainan, which will develop into a free trade zone, will introduce more measures. 

Data from Centaline Property shows Haikou’s home sales totaled 812,600 square meters from January to November 2018, a year-on-year decrease of 76.02 percent. After the strict property measures were introduced, Hainan’s real estate market began to slow last April.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue