China – Individuals can no longer buy new commercial property in Beijing
|Beijing Municipal Commission of Housing and Urban Rural Development website lists new rules which say individuals cannot buy new commercial property in Beijing.
Personal loans for buying the commercial property have been suspended as well. However, individuals can still buy second hand properties.
As per the new rules, the new commercial property can be sold only to enterprises, public entities and social organizations.
Iron ore and other base metals could feel the heat of Beijing’s crackdown on property markets.
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