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China to crack down on limited property rights

02-22-2012 13:11 BJT

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China's Ministry of Land and Resources also said today (Tuesday) it will launch a nation-wide clean-up on houses with limited property rights. That is, homes built on collectively held land that is meant for rural residents to live, not to be sold on a secondary market. China reiterated that such houses should not be registered and are not protected by law.

Houses with limited property rights are homes built on collective land but sold to buyers who do not obtain collective land ownerships.

Urban residents in China are prohibited from purchasing homes built on rural housing land, and they’re unable to buy houses with limited property rights.

Wang Zongya, the Supervisor of Law Enforcement & Supervision Dept., MLR, said:" We will choose some places where the problems are obvious to undertake our clean-ups. We will try to improve our current policy on a trial basis."

Despite an imminent nation-wide campaign to crack down on these purchases, some Beijing home-sellers are hoping to get around the rules, and are offering cheaper prices for limited property rights houses.

But under local level policies, some such homes are gaining the required ownerships.

One home seller said:" We offer homes with limited property rights that are located in the same residential area as ordinary ones. And we can grant buyers ownerships to these houses thanks to the local land bureau’s policies."

Still, illegal sales of limited property rights homes are rampant in some areas in China.

Experts say that with the property sector cooling and the campaign against these homes, limited property rights homes will be eliminated from China's market.

 

Editor:Bai Yang |Source: CNTV.CN

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