CCTV.com - CNTV English - CCTV News


Homepage > News > Biz >

Fewer houses sold, but more money into property development in Beijing

06-19-2011 15:29 BJT

BEIJING, June 19 (Xinhua) -- House trading has remained largely tepid in Beijing since the nation's capital promulgated a series of purchase limit policies on Feb. 16 to help cap the soaring home prices.

According to the municipal bureau of statistics, 4.52 million square meters of commercial houses were sold in the first five months of this year, a decline of 26 percent from the same period of last year. Of the total, 3.12 million square meters were residential houses, down 29.8 percent year-on-year.

Average price of newly-built ordinary housing stood at 14,127 yuan (2,140 U.S. dollars) per square meter, down 4.8 percent from that for the whole of last year.

However, more money went to real estate sector during the five-month period.

Between January and May, 91.56 billion yuan was invested in real estate development projects, up 4.1 percent year-on-year. The money accounted for 51.9 percent of the city's total fixed-assets investment over the five months.

Around 54.19 billion yuan was invested in commercial house projects, up 23.8 percent year-on-year.

The capital's new limits prohibit new home purchases by Beijing families who own two or more apartments and non-Beijing registered families who own at least one apartment.

Non-Beijing registered families are also banned from buying apartments if they have no residence permit or documents certifying that members of the family have been paying social security or income tax for five straight years.

The soaring housing prices have become a major source of public complaints in the country's major cities.

Beijing is determined to stabilize or lower new home prices this year.

It's considered the most ambitious housing price control target among those issued by more than 40 Chinese cities.

Industry insiders say Beijing is the first city that has targeted an actual price decline, which is unexpected.

Editor:Xiong Qu |Source: Xinhua

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program