Related News
Home » Business » Real Estate
Ministries issue joint order to maintain housing curbs
By Cherry Cao |
July 20, 2012, Friday
|
Online Edition
Online Edition
CHINA won't relax its property tightening measures and local governments around the country should continue to implement them strictly to prevent a price rebound, the Ministry of Land and Resources, and the Ministry of Housing and Urban-Rural Development said in a joint notice.
"Fluctuations" have emerged in both the property and land markets and therefore increased "complexities and instabilities" in the market though the overall scenario hasn't been changed yet, according to the notice, which was posted yesterday on the website of the land watchdog.
The notice came after the latest release of property data showed that the country's property market is seeing some signs of rebounding despite repeated vows from Premier Wen Jiabao as well as some other senior government officials recently to stick unswervingly to its rein-in policies to fight against property bubbles.
In June, new home sales, excluding government-funded affordable housing, jumped 41 percent from May to 531.3 billion yuan (US$84.2 billion) across the country while the number of cities seeing a month-on-month increase in home prices also rose to its highest in 11 months, according to data released earlier by the National Bureau of Statistics.
"The main purpose to issue such a notice now is to reiterate central government's resolution to cool off the property market which has been picking up some strength again over the past few months," said Huang Hetao, research manager at Century 21 China Real Estate, operator of the city's largest estate chain in terms of outlet numbers. "It will help dampen speculation that the market is to become overheated again and therefore help stabilize the market for the rest time of the year."
The notice also said that local governments should set "reasonable" starting prices for land bidding and adjust their sales plan in advance if the parcels are "highly likely" to fetch record prices.
"Fluctuations" have emerged in both the property and land markets and therefore increased "complexities and instabilities" in the market though the overall scenario hasn't been changed yet, according to the notice, which was posted yesterday on the website of the land watchdog.
The notice came after the latest release of property data showed that the country's property market is seeing some signs of rebounding despite repeated vows from Premier Wen Jiabao as well as some other senior government officials recently to stick unswervingly to its rein-in policies to fight against property bubbles.
In June, new home sales, excluding government-funded affordable housing, jumped 41 percent from May to 531.3 billion yuan (US$84.2 billion) across the country while the number of cities seeing a month-on-month increase in home prices also rose to its highest in 11 months, according to data released earlier by the National Bureau of Statistics.
"The main purpose to issue such a notice now is to reiterate central government's resolution to cool off the property market which has been picking up some strength again over the past few months," said Huang Hetao, research manager at Century 21 China Real Estate, operator of the city's largest estate chain in terms of outlet numbers. "It will help dampen speculation that the market is to become overheated again and therefore help stabilize the market for the rest time of the year."
The notice also said that local governments should set "reasonable" starting prices for land bidding and adjust their sales plan in advance if the parcels are "highly likely" to fetch record prices.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
