Nanning to ban presales of residential houses

17:06, January 25, 2010      

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Guangxi Zhuang Autonomous Region's housing and urban-rural development department announced that in order to regulate the real estate market, Guangxi will choose its capital city Nanning as a pilot city to ban the sale of uncompleted residential houses.

Song Jidong, the Party secretary of the regional housing and urban-rural development department, said the ban on the presale system of commercial residential houses can be seen as an orientation, during which, there must be a transition. Specific policies and measures are still being formulated.

Statistics from the regional housing and urban-rural development department indicates that in 2009, a total of 81.37 billion yuan was invested in Guangxi's real estate market, up 29.7 percent year-on-year. The average retail price of commercial residential houses is 3,260 yuan per square meter, up 15.4 percent year on year.

The regional housing and urban-rural development department revealed that measures will also be adopted to bring the fast-growing housing price under control, and more medium and small-sized commercial residential houses that are moderately priced will be available. In the meantime, the second-tier housing market will be regulated, housing and leasing markets will be revitalized, and the construction of price-limited condos will be accelerated.

By People's Daily Online
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