New policy hinders mortgages for foreigners

    February 23, 2012 | BY

    clpstaff &clp articles

    The National Development and Reform Commission released a new policy this month stopping foreigners from obtaining medium- or long-term mortgages. This is the latest move by the government to cool China's property market.

    Share:

    The policy “will not have the impact of cooling the market, we are talking about 2% or 3% of the market here,” said Joel Rothstein, a partner at Paul Hastings