China

China's land supply up 135% in H1 amid worries on property prices

English.news.cn   2010-08-01 09:03:11 FeedbackPrintRSS

Photo taken on July 3, 2010 shows the urban area of Hangzhou, a tourism destination famed for its Xihu Lake and also the capital city of east China's Zhejiang Province. According to a statistics backed by Hangzhou housing property administration, only 1,086 second-hand homes in urban area of the city were sold in June 2010, down 78.5 percent than the same month in the previous year. Meanwhile, average prices for second-hand homes stood at 20,043 yuan (2,960 US dollar) per square meter in June, rising by 39.3 percent from last June.  (Xinhua/Tan Jin) (hdt)

Photo taken on July 3, 2010 shows the urban area of Hangzhou, a tourism destination famed for its Xihu Lake and also the capital city of east China's Zhejiang Province. (Xinhua/Tan Jin)

BEIJING, Aug. 1 (Xinhua) -- China provided 56,000 hectares of land for residential use in the first six months of 2010, up 135 percent over the same period last year, according to the Ministry of Land and Resources.

A significant increase in the availability of land for housing was reported in areas like Guizhou Province, Beijing, Jiangxi Province, Heilongjiang Province and the Ningxia Hui Autonomous Region, said a statement on the ministry's website.

The land and resources management departments at various levels have been working hard to ensure land supplies, especially for indemnificatory housing, shantytown relocation housing, public rental housing and middle-sized and small apartments, the statement said.

The departments will work hard to ensure land supplies for public residential purposes, it added.

China implemented a series of measures to rein in soaring home prices and curb property market speculation in April. The measures included tighter scrutiny of applications for financing, limiting of loans for third-home purchases and higher down payment for buying second-homes.

Latest data indicated the red-hot property market has started cooling as average housing prices in 70 major cities fell 0.1 percent in June from May.

Editor: Wang Guanqun
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