Shanghai adopts measures to control surging home prices
Updated: 2016-10-09 13:38
(Xinhua)
|
|||||||||
Chinese homebuyers look at housing models of a residential property project during a real estate fair in Shanghai, China, May 2, 2015. [Photo / IC] |
SHANGHAI -- In an effort to stabilize its red-hot property market, Shanghai has adopted a set of measures, including increasing land supply and strengthening supervision of capital.
According to the measures published on Saturday, the city will increase the supply of land for commercial housing construction. A work team composed of staff from government departments will be formed to regulate the funding sources for land purchases.
The city will also enhance supervision over the purchase of homes that have previously been owned but never used. Stricter supervision over new home prices will also be implemented.
Additionally, authoritative property market information will be released on a regular basis to stabilize market expectations.
Shanghai is among a dozen Chinese cities struggling to cool property markets.
According to the National Bureau of Statistics, over 90 percent of cities surveyed in August reported new home price rises, up from 73 percent in July. Prices in Shanghai rose 37.8 percent year-on-year respectively, compared with 33.1 percent in July.
Related Stories
Home price curbs expected to spread
2016-10-08 07:07
New housing restrictions announced 2016-10-04 01:25
State counselor proposes cooling China's housing market 2016-09-23 07:43
Urban housing market diverges 2016-09-02 08:17
Today's Top News
President Xi encourages more investment in Portugal
France angry with Poland after it scraps Airbus deal
Pound plunges 6% in Asian trade on Brexit fear
Public holidays a profitable industry
Theresa May shifts her party toward the center
Security Council agrees on Guterres as next UN chief
Rudd says immigration speech not racist
West may be best for nation's teenagers
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Hollywood snaps up rock star's dog film |
Chinese people welcome dispossessed |
The can-do generation to the fore |
Riding the wave |
Leisure giants buoy cruise market |
She followed her heart |