Property Speculators Should Stop as Govt Toughens Control: Herald

Those who speculate in China's proerty market should stop as soon as possible as the authorities have enhanced measures to curb the bubbles and stabilize the market, the 21st Century Business Herald said in an editorial. Some banks in several cities have halted mortgage lending to pre-owed homes as the government wants to prevent an overheated housing market driven by fast-rising residential debt from last year through Q1, the newspaper said. However, a complete freeze in lending to pre-owned homes is unlikely as it may spark a panic or spur higher demand for new homes, the newspaper said. Some developers are playing "cat and mouse" games by finding complicated ways to funnel overseas capital into the mainland, even as the authorities have enforced controls over the markets, the newspaper said.