No move in Shanghai, but checks in place

Shanghai is still to announce the details of the curbs on overseas residents buying houses but property trading centers in its districts have already imposed restrictions on such purchases, allowing only the bona fide candidates to strike a deal.

This has shut the door on unqualified overseas residents eager to buy a house and dampened Shanghai's high-end housing market.

"Many unqualified overseas residents, especially Chinese living abroad, are disappointed by the policy change, says CB Richard Ellis's Shanghai Office analyst David Chen.