China housing ministry orders cities to adjust residential land supply

China housing ministry orders cities to adjust residential land supply

China's housing ministry has already called on the country’s cities with large unsold housing inventories to diminish or suspend land supply for residential housing.

The notice states that cities with unsold housing inventory equal to 36 months of sales or even more need to suspend the supply of land for residential development.

However, for cities under pressure from ascending home prices, they require increasing residential housing land supply, as told the notice jointly issued by the Ministry of Housing and Urban-Rural Development as well as the Ministry of Land and Resources. Although this was dated April 1, it was released publicly on Thursday.

The Chinese authorities face the dual challenge of controlling soaring home prices in the largest cities of the country where prices are extremely expensive for many residents, while stimulating sales and backing prices in smaller cities which face a huge glut of unsold homes.

 

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera