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China Restricts Land Bids, Calls For More Public Housing

[时间:2010/9/27 13:57:32  查看次数:3288  作者:China Lawyer  来源:转载]

SHANGHAI -(Dow Jones)- China said Monday it has banned companies that failed to develop land more than a year after winning sites via auctions from bidding for more land, in another move to curb the nation's hot property market.

The Ministry of Land and Resources and the Ministry of Housing and Urban-Rural Development said in a joint statement that cities that haven't met the central government's public housing requirement will be barred from offering land for luxury housing.

The statement reiterated local governments must allocate at least 70% of land offered in auctions to the development of subsidized public apartments and small- and medium-sized homes.

In the past months, China has implemented various tightening measures aimed at curbing demand for residential properties to prevent overly high property prices. However, property price movements have yet to meet Beijing's expectations, prompting high-ranking officials to call for a policy shift toward curbing housing supply rather than demand.

Copyright © 2010 Dow Jones Newswires
田杰 律师
中国石油大学英语学士,华东政法大学法律硕士,曾在Clifford Chance上海代表处任高级翻译,在中伦上海分所和中银上海分所任专业房地产律师。现为北京大成(上海)律师事务所执业律师,主营房地产交易、投融资业务[详细]

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