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China's Dandong city, on North Korea border, curbs buying frenzy in property market

Reuters  |  BEIJING 

BEIJING (Reuters) - The Chinese city of Dandong, which lies on the border with North Korea, is tightening regulation of its property market after speculators pushed up home prices as they bet on Pyongyang's pledge to rebuild its economy. Investors are flooding into the property market in Dandong, hoping to obtain early market share after the historic inter-Korea summit last month opened the prospect of a rapid improvement in relations between North Korea and the rest of the world.According to the guidelines issued by the Dandong government, the city plans to impose purchase restrictions in a ...

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First Published: Mon, May 14 2018. 23:30 IST