New leasing measures launched

Updated:Nov 24,2017 11:06 AM Global Times

Policies cooling property market to continue

Several cities have recently launched upgraded leasing policies to stabilize the overall property market.

Hefei in East China's Anhui Province announced on the local government website on Tuesday that it would speed up the pilot work on housing leases. Hefei is one of first batch of pilot cities enlisted for leasing in China.

The announcement said there will be an online regulatory platform for house leasing transaction services that will go live by the end of this year. And there will be about 160,000 centralized rental apartments by 2020, it said.

Shenzhen in South China's Guangdong Province has adjusted its housing provident fund rental amount to 65 percent, the city's bureau of housing and urban-rural development said on Tuesday.

According to the local government, every citizen's monthly housing withdrawal amount should not exceed 40 percent of the monthly deposit.

Nine cities upgraded their leasing policies last week. So far this year, more than 100 deals related to land leasing have been signed in first-tier cities, providing about four million square meters of leasing space, the Securities Daily reported on Wednesday.

Regulations on curbing property sector risks will not be relaxed, said a statement published on the official website of the Ministry of Housing and Urban-Rural Development (MOHURD) on Tuesday.

Five top priorities have been outlined, including cultivating the domestic rental market, stepping up efforts to provide public rental housing and developing a joint-ownership housing mechanism, according to the statement.

Meanwhile, a long-term mechanism is also needed to support sound development in the property sector, according to MOHURD.

A total of 15 cities with booming property markets among the 70 large and medium-sized cities monitored by the National Bureau of Statistics (NBS) reported stable prices in October, thanks to local governments' implementation of property policies, the NBS said on Saturday.

The NBS data also showed that in first-tier cities, new property and second-hand homes saw a slowdown in year-on-year price increases for the 13th consecutive month in October, the Securities Daily report said.

Second-tier cities saw a drop in year-on-year price increases for new housing for the 11th consecutive month in October, and for second-hand homes it was the ninth consecutive month, the report also said.