The property prices are still on the increase whether of high-end apartments, ordinary residential houses, newly-built or second-hand houses. Beijing still witnesses relatively large-margin increase in housing prices although the government has issued several policies to cool down the property market.
According to figures released by Beijing Municipal State Land Resource and Housing Administration, 712 land projects have been approved for housing construction, covering about 5,775 hectares. So far 669 hectares have been completed, accounting for 12 percent of the total, while 2,947 hectares still renain intact.
It is therefore easy to conclude that there is no "land shortage" in Beijing because the land of 2,947 hectares is stocked up by real estate developers.
Yu Xiuqin, spokeswoman of the Beijing Statistics Bureau, said that Beijing’s house sale index was 107.9 percent in the first half of the year, increasing 1.2 percent age points from the corresponding period of last year. The general housing prices were stable, but the range of increase was still high, she said.
Although the government has published a series of control policies it would take time to put them into effect. In addition, real estate developers have held a land reserve covering 80,000,000 square meters. So it is difficult to solve the problem of the limited supply and infinite demand in the property market in a short time.
Loading ...