New policy hinders mortgages for foreigners
February 28, 2012 | BY
clpstaff &clp articlesThe 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.
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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