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Housing land supply plans urged
Source: Xinhua |
February 27, 2013, Wednesday
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IN a bid to keep the property market stable, China is pressing local planning authorities to speed up plans for land supplies for housing, according to a media report yesterday.
The Ministry of Land and Resources has ordered its local branches to report this year's plans for residential land supplies by the end of March, the China Business News reported, citing an unnamed official with the ministry.
After gathering all local reports, the ministry may unveil the national plan in April, nearly a month earlier than it did last year, the paper said.
Meanwhile, the national plan will highlight diversity within China, the official said, adding that the ministry will require cities affected by tight housing supplies to increase and stabilize residential land supplies.
The ministry will also impose tougher inspections on cities that have seen rising housing or land prices for more than three consecutive months, as well as require these cities to accelerate the pace of supplying land to bolster market confidence, the official said.
Due to the government's policy controls over the property market, Chinese cities have all failed to fulfill residential land supply plans over the past three years, the paper said.
China's land supplies for real estate shrank 4.2 percent year on year in 2012 to 160,300 hectares, with housing land stocks falling 11.5 percent to 110,800 hectares, the paper said, citing an internal document from the ministry.
Last week, the State Council, or Cabinet, vowed to strictly impose curbs on the housing market.
The Ministry of Land and Resources has ordered its local branches to report this year's plans for residential land supplies by the end of March, the China Business News reported, citing an unnamed official with the ministry.
After gathering all local reports, the ministry may unveil the national plan in April, nearly a month earlier than it did last year, the paper said.
Meanwhile, the national plan will highlight diversity within China, the official said, adding that the ministry will require cities affected by tight housing supplies to increase and stabilize residential land supplies.
The ministry will also impose tougher inspections on cities that have seen rising housing or land prices for more than three consecutive months, as well as require these cities to accelerate the pace of supplying land to bolster market confidence, the official said.
Due to the government's policy controls over the property market, Chinese cities have all failed to fulfill residential land supply plans over the past three years, the paper said.
China's land supplies for real estate shrank 4.2 percent year on year in 2012 to 160,300 hectares, with housing land stocks falling 11.5 percent to 110,800 hectares, the paper said, citing an internal document from the ministry.
Last week, the State Council, or Cabinet, vowed to strictly impose curbs on the housing market.
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