China to tighten land controls to curb housing inflation
The Chinese government will tightly regulate land supply to boost affordable housing and to clamp down harder on illegal land use this year (2011) , the Ministry of Land and Resources said as it seeks to contain housing inflation.
China has increased land supply for government-subsidised and small homes in the past 2 years to ease property prices for the benefit of first-time buyers, but some developers have built commercial properties on land slated for affordable housing, prompting an extensive campaign to punish culpable officials and executives.
"The illegal use of land will probably rebound this year," Gan Zangchun, a deputy chief of land inspection, said.
On the one hand, demand for land is surging as shown in a survey by the ministry in early 2011 March; on the other, China is keeping tight controls on land supplies.
"The demand for land as shown in the survey far exceeds the total amount of planned supply for this year," he said, adding that the supply shortage would only worsen in years to come.
"To be frank, the days when the demand for land for construction is fully met by supply are gone forever," Gan Zangchun also said.
The Chinese government will tightly regulate land supply to boost affordable housing and to clamp down harder on illegal land use this year (2011) , the Ministry of Land and Resources said as it seeks to contain housing inflation.
China has increased land supply for government-subsidised and small homes in the past 2 years to ease property prices for the benefit of first-time buyers, but some developers have built commercial properties on land slated for affordable housing, prompting an extensive campaign to punish culpable officials and executives.
"The illegal use of land will probably rebound this year," Gan Zangchun, a deputy chief of land inspection, said.
On the one hand, demand for land is surging as shown in a survey by the ministry in early 2011 March; on the other, China is keeping tight controls on land supplies.
"The demand for land as shown in the survey far exceeds the total amount of planned supply for this year," he said, adding that the supply shortage would only worsen in years to come.
"To be frank, the days when the demand for land for construction is fully met by supply are gone forever," Gan Zangchun also said.
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