Cities to resume restrictions on property acquisition
Many cities in the country, including some first-tiers like Beijing, Shanghai, Guangzhou, and Shenzhen, will continue carrying out last year's property macro-control measures in 2011, according to a China Business News (CBN) report Tuesday.According to the Xinhua News Agency, four cities, Fuzhou, Xiamen, Haikou and Wenzhou, whose policy expiry date was due to December 31, 2010 will all resume the house-purchase restrictions.
Authorities of Guangzhou, Shenzhen and Beijing also stated that there is still no timetable for when these policies will be scrapped.
On April 30 last year, Beijing – leading the way — announced to limit the purchase of property from May 1. After the central government unveiled the second round of macro-control policies on property market on September 29, 15 cities, including Shanghai, Guangzhou, Shenzhen, Dalian, Nanjing, Haikou, Sanya and Lanzhou adopted into the trend.
Jiang Weixin, minister of Housing and Urban-Rural Development, said recently at a conference that in some areas and cities the policies need to be strengthened.
According to Wang Haibin, chief analyst from World Union Properties, since the cities did not achieve the results the policies were meant to generate, a practical solution is now to extend its time of use.
According to a report released by the National Bureau of Statistics (NBS) on the country's housing prices in November, of the policy-adopting cities, only the prices in Guangzhou dropped (0.1 percent), while other cities saw them (prices) even higher than in the same period of 2009. Haikou and Sanya saw astounding increases of 49 and 55.1 percent year-on-year respectively.
Boosting sales of property developers in October and November also showed the ineffectiveness of the policies.
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