In the month of May, more than 40 cities across the country issued 50 new rules to crack down on housing speculation — a historical record for issuing new regulations in a single month, The Paper reported.
It is noticeable that most of the cites that stepped up to curb the housing speculation are third- and fourth- tier cities.
The new regulations include the tightening of purchase limits and sales restrictions, the strengthening of pre-sale price management, and the adjustment of loan ratios.
Zhang Bo, the chief analyst at housing rental service platform anjuke.com, thinks more and more cities will adopt the lottery system for home purchases.
Real estate developers in these cities hand out numbered tickets to interested buyers before the launch of projects through a lottery draw. The tickets decide the order of buyers to select their preferred apartment units on the day of the launch.
So far, seven cities including Nanjing, Shanghai, Changsha and Chengdu have implemented the lottery system.