New cooling measures result in rush of sales of luxury property in China

The implementation of further tightening measures by the central government in China is expected to slower the pace of luxury residential price growth in 2013. But it will not reverse the upward trend, according to the latest Greater China Property Market report from Knight Frank covering the first quarter of the year. It shows that in Beijing the luxury residential supply fell over 30% quarter on quarter during the traditional low season.However, luxury residential sales were hot despite the tr...