Property policy picks up after 7 years of suspension

The average price of second-hand properties sold rose to 40,133 yuan per sq. by the end of March, a 1.1 percent development month on month which marked the greatest rate in history, reported 21st Century Business Herald Friday.

Beijing Municipal Bureau of Land and Resources published 3 plots of land on its site on Thursday, 2 which are residential, located in Changping district. It is clearly noted in the post that aside from the area for developing cost effective housing, houses built on the remainder of the land with a location of less than 90 sq.  should account for more than 70 percent.

The move is seen as the comeback of the '90/70' requirement after seven years' suspension of that policy.

In 2006, the State Council launched a document needing that commercial housing which were authorized after June 1 that year with a location of less than 90 sq.  have to account for 70 percent of the overall houses being constructed.

As home rates keep trekking in significant Chinese cities, Beijing Municipal Commission of Housing and Urban-Rural Development is tightening the property regulations. On top of that, the bureau is also reinforcing the examination of home purchasers' certifications, magnifying efforts to remedy the intermediary market and stabilizing the property market in a quote to curb getting too hot in housing costs.

On March 25, Shanghai strengthened conditions to buy property and raised the deposit requirements for previously owned houses.

Shenzhen rolled out tightening up steps much like Shanghai's on the same day as its new home prices advanced 3.6 percent in March, softening from 5.4 percent in February but still up 57 percent from a year previously.

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