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More land for affording homes supplied in China

02-22-2012 11:04 BJT

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China's Ministry of Land and Resources announced its plans for land supply in the year ahead. With current cooling polices in this sector aimed at cracking down on speculation, more land will be provided for subsidized housing projects.

Last year, land supply for residential projects made up nearly 140 thousand hectares. That accounted for about 60 percent of the government's total planned land supply quota for home construction. But officials say the planned quota is mainly aimed at ensuring land supply in the market, and also better structuring certain projects if need be.

Dou Jingli, Deputy Director of China's Ministry of Land and Resources said:" We planned extra to guarantee sufficient land supply. But still, in 2011, the amount of actual land developed hit a record high, and the structure was also improved."

The Ministry also announced details regarding the amount of land that would be made available for residential projects in 2012. It said it would offer no less than the previous 5 years average -- with at least 70 percent going toward affordable and middle-class developments.

Dou also said:" We will improve the structure of land usage, including increasing the land supply for normal residential projects, and controlling the supply available for high-end homes."

In 2011, over 100 thousand hectares of land were used to develop middle-class housing projects. Nearly 50 thousand hectares were used to construct affordable units, an increase of nearly 50 percent year-on-year. Officials say they will continue to give priority to affordable housing construction this year.

 

Editor:Bai Yang |Source: CNTV.CN

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