Wendy Zhang/ Shanghai Daily news
Excessively large apartments and too-few quality properties are cited as two
disadvantages of the Chinese real estate market, said Sun Kefang, deputy general
engineer with the Chinese Ministry of Construction, when attending the 2005
Kunming Property Fair, as cited by eastday.com today.
The domestic real
estate market is growing rapidly, but the average apartment space in some
localities already exceeds those of developed countries. Limited availability of
land will have a negative impact on the domestic property sector, Sun pointed
out.
Although suffering from land shortages, Zhejiang Province boasts a
per-capita living space of 31 square meters, higher than the national average of
25 square meters. China should develop more small and medium-sized apartments of
around 100 square meters, Sun suggested.
Moreover, real estate developers
often fail to use high-quality construction materials ,so buyers will have to
pay higher maintenance costs in the future.
The government is responsible
for both controlling the property plot ratio and encouraging real estate
developers to build more high-quality and energy-efficient properties by the
issuance of preferential policies, Sun stressed.
The two disadvantages have
caused a serious problem for the domestic real estate market, he added.