China tightens property rules: What it means for buyers, developers

Only 17 of 70 China cities tracked recorded monthly gains in new home prices in July.China has tightened rules governing the sale of homes before completion, seeking to reduce delivery risks for buyers and curb developers’ dependence on presales to fund construction as Beijing tries to stabilise its struggling property market.Under the new measures announced on Friday, local governments have been instructed to “vigorously and orderly promote the sale of ready-to-move-in commercial housing” and strengthen protections for buyers purchasing homes that are still under construction.What are the new rules?Mortgages after completion: New lending guidelines from China’s central bank and financial regulator mean housing loans would be issued only after residential projects are completed, reducing d