Video>> Beijing new property prices fall in 2011 H1
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| Photo taken on July 6, 2011, shows citizens visiting the Summer Real Estate Fair in Shenyang, capital of northeast China's Liaoning Province. (Xinhua/Pan Yulong) |
BEIJING, Aug. 25 (Xinhua) -- China will continue to implement macro-control policies on its property sector, a senior official said Thursday.
"We'll unswervingly stick to controlling the property market without changing the direction or loosening the policies," said Zhang Ping, head of the National Development and Reform Commission (NDRC), China's top economic planner.
He made the remarks in his report on the implementation of national economic and social development plan for the first seven months of this year to the National People's Congress Standing Committee, the country's top legislature.
The government's macro-control policies have been relatively well implemented, Zhang said, adding that house prices in some cities had started to cool.
In July, 31 cities out of the country's 70 major urban centers saw new home prices decline or remain unchanged from a month earlier, compared with 26 cities in June, according to official figures.
Fourteen cities saw month-on-month declines in new home prices in July, up from 12 in June.
Rocketing property prices have been a major government and buyer concern in China as purchasing an apartment has become an unrealistic dream for many ordinary citizens.
The Chinese government has restricted residents in 43 major cities from buying second or third homes and is preparing to extend the restrictions to the country's second- and third-tier cities.
It also has required higher down payments for mortgages and instituted new property taxes in the cities of Chongqing and Shanghai to rein in the runaway prices.
Zhang urged authorities to curb speculative house buying and increase market supply.
Measures must be taken to ensure enough funds and land supply for construction of affordable houses and to improve quality control on those projects, he said.
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Couples to pay tax to add name to their property
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A partner in a couple who wants to obtain part ownership of property that had belonged to the other partner before they were married will have to pay a tax that took effect on Tuesday, according to a regulation adopted by Nanjing, capital of Jiangsu province. Full story
Property tightening measures to spread to smaller cities
BEIJING, Aug. 18 (Xinhuanet) – Central authorities have ordered provincial governments to report their progress in curbing rising property prices and prepare a list of cities where home-purchasing restrictions will be imposed, a Shanghai Securities News report said on Wednesday.
Analysts said the new round of home-purchasing restrictions targeting second- and third-tier cities might help in curbing rising property prices in first-tier cities. Full story
China's property developers under pressure as inventories pile up
BEIJING, Aug. 11 (Xinhua) -- China's property developers saw their inventories surge in the first half of this year as government measures to cool the market have started to bite, latest statistics show.
Total inventories of 20 listed real estate developers that had released their semi-annual reports as of Wednesday soared 46.3 percent year-on-year to 317.76 billion yuan (about 49.65 billion U.S. dollars) in the first half of 2011, according to Wind Information, a Shanghai-based financial data provider. Full story
China's property developers under pressure as inventories pile up
BEIJING, Aug. 11 (Xinhua) -- China's property developers saw their inventories surge in the first half of this year as government measures to cool the market have started to bite, latest statistics show.
Total inventories of 20 listed real estate developers that had released their semi-annual reports as of Wednesday soared 46.3 percent year-on-year to 317.76 billion yuan (about 49.65 billion U.S. dollars) in the first half of 2011, according to Wind Information, a Shanghai-based financial data provider. Full story
Analysis>> Crossroads for property prices
BEIJING, August 4 (Xinhuanet) – Tightening monetary policies and affordable housing projects are pushing developers to rethink their strategy
In a move to reassess the ability of domestic commercial banks to cope with the growing housing lending risks, the China Banking Regulatory Commission conducted a stress test on these lenders in the second quarter.Full story
People's Daily says government-related factors cause 60% of undeveloped property land
BEIJING, July 28 (Xinhua) -- The People's Daily, the flagship newspaper of the Communist Party of China, said Thursday that 60 percent of the land for property development has been left unused due to government-related causes.
About 11,944 hectares of land for property use were left undeveloped by the end of 2010, according to the report that cited statistics from the Ministry of Land Resources. Full story
