China property

China property: govt continues to fine-tune tightening measures. New policy changes include, i) increase down payment for first time home buyers to 30% from 20%, ii) raise down payment for second property purchases to 50% from 40%, iii) banks nationwide ordered to halt lending for third and subsequent home purchases, iv) introduction of trial property tax nationwide. To begin first with cities like Shanghai, Shenzhen, Beijing, Chongqing…

Such an intensive launch of policies reflects the government's resolve to address high property prices, a major concern for most Chinese families. Street notes near term negative reaction likely; Deutsche expects China property stocks to fall by ~10%.
Yanlord, Yingli, Debao, China New Town Dev amongst the Chinese developers listed here. CapitaLand, Keppel Land among the Singapore developers with sizeable exposure to the sector.