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China Further Enlivens Real Estate Market
The Chinese government is planning to further enliven the country's real estate markets and stimulate individuals' spending on housing by providing subsidies for home buyers.
To date, the institutions directly under the central organs and departments have transferred housing construction funds totaling 2 billion yuan into housing subsidies for home buyers, according to Xie Jiajin, director of Housing and Real Estate Department under the Ministry of Construction.
She called on various Chinese cities to lose no time in implementing the housing subsiding policy.
The official said China's real estate markets have seen an overall rise in housing sales, with slight rise in housing price.
She held that individuals' home buying spree in some places has boosted the development of real estate markets.
So far, individual home buyers have accounted for 88 percent of the commodity house buyers in general, and the figure even rose as high as 90 percent in the cities of Shanghai, Tianjin and Changchun.
The economically affordable houses with low price and good quality are warmly welcome in the real estate markets. And the mid- size apartment with floor space ranging between 70 and 90 square meters are most marketable, the official added.
The western regions of China also gained headway in developing real estate markets, with investment and housing sales even increasing faster than that in the eastern and central parts of the country, the official said.
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