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Watchdog denies reports of officials offloading property
By Cherry Cao |
January 26, 2013, Saturday
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Print Edition
Print Edition
China's top disciplinary watchdog yesterday denied media reports that public servants and senior executives in state-owned enterprises are disposing of real estate in response to the central government's pledge to find corruption.
Since mid-November, the number of luxury apartments and villas being put on the market - some owned by officials or executives - has been noticeably higher than usual in 45 cities, according to media reports.
However, an unnamed official with the Party's Central Commission for Discipline Inspection told China National Radio: "Such reports are not true. Wording in many of the stories is vague, and the sources they cite are certainly not reliable."
While some government officials and senior executives of SOEs have been asked to report their real estate assets voluntarily once a year since July 2010, the commission was not authorized to track their private real estate trading records, the commission official said.
The disciplinary watchdog in Shanghai said on its official microblog yesterday that a recent media report saying 4,755 luxury houses were disposed of by local government officials was not true and the central disciplinary watchdog has never issued any notice concerning such issues.
Shanghai Deovolente Realty Co, a major real estate chain in the city which mainly targets the high-end existing home market, also said such reports were groundless.
As the local housing market began to pick up strength at the end of last year, inventories of pre-owned houses fell quickly and many owners were holding back from putting homes on the market as they waited for prices to rise, according to Deovolente.
The company said it hadn't seen any notable increase over the past few months in the release of luxury residential properties and there were very few cases that involved an unusually low asking price.
Since mid-November, the number of luxury apartments and villas being put on the market - some owned by officials or executives - has been noticeably higher than usual in 45 cities, according to media reports.
However, an unnamed official with the Party's Central Commission for Discipline Inspection told China National Radio: "Such reports are not true. Wording in many of the stories is vague, and the sources they cite are certainly not reliable."
While some government officials and senior executives of SOEs have been asked to report their real estate assets voluntarily once a year since July 2010, the commission was not authorized to track their private real estate trading records, the commission official said.
The disciplinary watchdog in Shanghai said on its official microblog yesterday that a recent media report saying 4,755 luxury houses were disposed of by local government officials was not true and the central disciplinary watchdog has never issued any notice concerning such issues.
Shanghai Deovolente Realty Co, a major real estate chain in the city which mainly targets the high-end existing home market, also said such reports were groundless.
As the local housing market began to pick up strength at the end of last year, inventories of pre-owned houses fell quickly and many owners were holding back from putting homes on the market as they waited for prices to rise, according to Deovolente.
The company said it hadn't seen any notable increase over the past few months in the release of luxury residential properties and there were very few cases that involved an unusually low asking price.
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