Housing market to slow in next 2 years: report

     BEIJING, July 7 -- The growth in average prices for residential properties in China's mainland will slow to below 5 percent over the next two years, while Shanghai's housing prices are likely to drop further by 15 percent, an industry report forecast Thursday.

Lenders in Shanghai tackle late payments

     BEIJING, July 7 -- Commercial lenders in Shanghai are taking strong steps to penalize late housing loan payments by adding up to 50 per cent to the interest rates for overdue payments.

New rules may restrict overseas home buyers

     BEIJING, July 6 -- China will soon release a policy that will limit foreigners and people from Hong Kong, Macau or Taiwan from buying homes on the mainland to curb the speculation in the over-heated property market, China Business News reported today.

High-income group intends to buy more houses

     BEIJING, July 6 -- The Chinese high-income group intends to make investment in terms of property purchase, according to a report on living conditions in China jointly released by a research institute affiliated to China's State Statistics Bureau and MasterCard Organization.

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