City to ensure a healthy housing market
21/4/2004 14:46
In addition to the ban on the transfer of unfinished apartments, the local
government will take measures in five other areas to ensure the healthy
development of Shanghai's housing market, government spokesperson Jiao Yang said
on April 20 press conference.
The measures include increasing the land supply
for housing projects, improving the housing industry structure, perfecting
housing trade regulations and establishing a market information system as well
as setting up a social housing security system.
Jiao said this year's land
supply will mainly be for residential projects except for key national and the
municipality projects. Supply will be controlled for high-end projects such as
villas, particularly those in downtown areas.
Requirements for trading
unfinished property projects will be lowered to encourage purchase. Under the
new policy, a project that is one quarter completed will be eligible for
sale.
The government will complete the construction of 3 million square
meters of low price housing this year and will supply them to relocated
residents, Jiao noted.
It will also start construction this year on another
3.5 million square meters of low-priced projects.
To secure a healthy housing
market, the government will publish housing trade information online to crack
down on price hikes resulting from illegal operations, Jiao
added.
Jane Chen / Shanghai Daily news
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