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Land Supply up 135% in 1st Half Year
Aug 2, 2010 10:21CST

BEIJING, Aug. 2 -- China provided 56,000 hectares of land for residential use in the first six months of 2010, up 135 percent over the same period last year, according to the Ministry of Land and Resources.

A significant increase in the availability of land for housing was reported in areas like Guizhou province, Beijing, Jiangxi province, Heilongjiang province and the Ningxia Hui autonomous region, said a statement on the ministry's website.

The land and resources management departments at various levels have been working hard to ensure land supplies, especially for indemnificatory housing, shantytown relocation housing, public rental housing and middle-sized and small apartments, the statement said.

The departments will work hard to ensure land supplies for public residential purposes, it added.

China implemented a series of measures to rein in soaring home prices and curb property market speculation in April. The measures included tighter scrutiny of applications for financing, limiting of loans for third-home purchases and higher down payment for buying second-homes.

Latest data indicated the red-hot property market has started cooling as average housing prices in 70 major cities fell 0.1 percent in June from May.

China economy macroeconomy
Macro control policy
real estate industry

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