Government measures paralyze China's residential-property market

06/4/2010 | Wall Street Journal, The

Government actions taken to slow growth in China's booming residential-property market by restricting speculative buying might have gone too far as growth has slowed sharply. Investors and analysts are waiting to see what the government will do next -- continue to implement slow-growth measures or lift the ones it has implemented to revive confidence. "What's really dampened the market is the uncertainty. That overhang is what's driving everyone to wait," said Kevin Yung of IFM Investments, which runs the Century 21 real estate agency franchise in the country.

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