Moody’s Investors Service expects local governments in China to roll out additional tightening measures to temper property sales and price growth in the next twelve months, Xinhua news agency reported. “The number of cities recording strong price gains of more than 10 percent year-on-year increased to 21 last month from 14 in September, the record high so far this year,” Franco Leung, an assistant vice president and analyst at Moody’s, was quoted as saying. Wuhan announced in November new tightening measures on home purchases, making it the first second-tier city to unveil tightening measures in recent months. Subsequently, other cities, such as Hangzhou, Nanjing, Changsha, Shenyang and Nanchang, also announced new measures to control price growth. The trend is expected to continue, according to a Moody’s report.
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