|
Housing industry cools off - Ministry report
(Xinhua)
Updated: 2005-06-09 21:15 China's overheated housing industryis cooling off
after the central government strengthened macro- regulation, the Economic
Information Daily reported Thursday.
 |
|
Customers talk with salesclerk in Nanjing,
capital of East China's Jiangsu Province, June 8, 2005.
[newsphoto] | "The growth in real estate
investment is on the decline while the Chinese people's consumption on
residential houses has become more rational," said an official report from the
Ministry of Land and Resources.
According to the newspaper, the ministry just wrapped up a survey in 24
regions and completed 146 reports on the issues like land utilization and the
status of market supply and demand.
So far, the proportion of urban land tapped for moderately-priced commercial
houses and economical houses has been on the rise, says the report. In
Chongqing, for instance, the proportion for economical houses has grown from
last year's 5 percent to 10 percent.
In east metropolitan Shanghai, the land supply for ordinary commercial houses
is projected at 2,000 hectares this year, up 138 percent over 2004, about two
thirds of city's total supply for residential houses in 2005. In Ningbo, east
China's Zhejiang Province, the proportion of land supply for economical houses
rocketed from last year's 2.9 percent to 24.4 percent.
The survey also found there has been approximately 2,500 hectares of land
vacant for more than two years across China. So far, forty-nine hectares have
been taken back from land developers as a punishment.
To strike hard at speculation, south China's Guangzhou has started to levy
charges on vacant lands as of May 1 while the Chongqing municipal government
declined to approve more land supply to developers whose real estate programs
are only half done.
To curb the overheating trend of the real estate industry and secure the
housing rights of the needy, the Chinese central government required earlier
this year all local governments restructure land supply, clear up vacant land
and monitor the price fluctuations of real estate.
Since these policies have been well implemented, the Ministry of Land and
Resources said a long-term land development plan will be mapped out. Meanwhile,
a special land fund will be established to help the central government make use
of land reserves to secure the healthy development of the real estate
industry.
| |
 |
|
|
|
|
Today's
Top News |
|
|
|
Top China
News |
|
|
|
|
|
|
|
|
|
