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People's Daily Online>>China Business

Home purchasing limits to continue

By Zhao Qian (Global Times)

17:03, November 30, 2011

The policy of limiting home purchases in 10 cities in China that was expected to expire at the end of this year will instead be extended further, as part of the government's determination to cool the property sector, an official told the Global Times on Tuesday.

"The home purchase-limiting policies applied in these cities will be extended," Wang Juelin, deputy director of the Policy Research Center with the Ministry of Housing and Urban-Rural Development, told the Global Times.

"The government curbing policies should not be loosened just when recent data has showed that home prices in some cities have begun to decline and the policy has started to take effect," said Wang, "or it would be a waste of all the previous efforts."

Ten cities, including Xiamen, Shijiazhuang, Haikou and Suzhou, previously said that the purchase-limiting policies would expire on December 31 this year. But no local government has announced whether the policy will be extended.

In October, 34 out of 70 major cities saw declines in new home prices from September, while 17 had seen a decline in September from the month before, the National Bureau of Statistics said.

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