Beijing moves to curb runaway house prices
Source: Xinhua |
April 17, 2010, Saturday
|
Print Edition
Print Edition
THE Beijing municipal government has increased the annual land allocation for low-cost housing in a bid to curb rising property prices, an official said yesterday.
So far this year, land allocated for low-cost housing was 571 hectares, said Zeng Zanrong, deputy director of the Beijing Bureau of Land and Resources.
The municipal government planned to supply 2,500 hectares of land for housing this year, 65 percent more than last year, 50 percent of which was for affordable housing, Zeng said. Last year the total land allocated to low-cost housing was 600 hectares, 46 percent of the total residential land supply.
More than 90,000 low-cost homes, capable of accommodating 200,000 people, had been planned for 2009 and 2010, Zeng said.
A series of measures was launched yesterday by the bureau to control house prices.
"Price will not be the most important factor in land bidding any more," Zeng said.
Other factors, including the comprehensive capability of the property development company, the construction period and the company's track record on low-cost housing construction, would also be considered.
A price range would be decided after discussion with government officials and experts, Zeng said.
The Ministry of Land and Resources had earlier announced plans to increase land available for residential property, in a bid to rein in the country's runaway property market.
So far this year, land allocated for low-cost housing was 571 hectares, said Zeng Zanrong, deputy director of the Beijing Bureau of Land and Resources.
The municipal government planned to supply 2,500 hectares of land for housing this year, 65 percent more than last year, 50 percent of which was for affordable housing, Zeng said. Last year the total land allocated to low-cost housing was 600 hectares, 46 percent of the total residential land supply.
More than 90,000 low-cost homes, capable of accommodating 200,000 people, had been planned for 2009 and 2010, Zeng said.
A series of measures was launched yesterday by the bureau to control house prices.
"Price will not be the most important factor in land bidding any more," Zeng said.
Other factors, including the comprehensive capability of the property development company, the construction period and the company's track record on low-cost housing construction, would also be considered.
A price range would be decided after discussion with government officials and experts, Zeng said.
The Ministry of Land and Resources had earlier announced plans to increase land available for residential property, in a bid to rein in the country's runaway property market.
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