On 8 December 2010, the Shanghai Spring Property Summit and Exhibitor Appreciation Gala was held at Pudong where members of government agencies, local and overseas property industry representatives and media groups participated in thought-provoking panel discussions on topics like “Property Purchasing Limit Statute” and “Low Carbon Energy Conservation”.
“Initially, investor strength was crucial to a flourishing property sector. However, following the maturity of the industry, continued health requires a readjustment and equilibrium between investment-based and occupancy-based purchasing.”
To boost this equilibrium, three government policies were introduced in 2010: to increase bank loan interest rates, implement real estate tax and to limit purchase of multiple flats. This is expected to carry on into 2011 as crackdown on speculation seems to be theme for the Chinese real estate industry in the near to mid term. Market observers are expecting an overall decline in property transactions except for transactions of high-end properties of a scarce nature which are expected to boom.
With this in mind, the Shanghai Spring Property Summit acts as the preview of the 2011 Shanghai Spring Property Exchange Exhibition which will take place from 17 to 20 March at the Shanghai International Exhibition Center. For more on Spring, log on to www.springre.com.