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House purchase restriction adopted in smaller cities

07-25-2011 10:41 BJT

It seems that house purchase restriction is very much needed in smaller cities. Langfang in Hebei province and Dongguan in Guangdong province are initially trying price control measures.

Half of house buyers in Langfang are not local people. House prices in Langfang in Hebei province, 56 kilometers away from Beijing, were ironically growing after the State Council published "the most severe house price controlling measures" early this year.

On July 12th, the State Council asked smaller cities to adopt restriction measures for the fast growing house prices. About a week later, Langfang Housing and Urban-Rural Construction Bureau suggested restricting house prices in the city.

According to the suggestion, the price of newly constructed commercial residential house can't exceed 9 thousand yuan per square meter. House prices in central areas of the city can't exceed 82 hundred yuan per square meter. And in suburbs can't exceed 71 hundred yuan per square meter.

A resident in Langfang, Hebei province, said, "It's good news for young people who are planning to buy a house."

However, the measure is just a suggestion, not mandatory.

Another city, Dongguan in Guangdong province has taken measures to control house prices as well. The local authority set a target in March this year to restrict the price of newly contructed houses to about 82 hundred yuan per square meter.

Xuan Shaoying, staff member of Dongguan Housing and Urban-Rural Construction Bureau, said, "The price has already grown to more than 8 thousand yuan per square meter in the first half of this year. The pressure of price controlling is very large for local government in the second half of the year."

Experts say house prices increased 7.6 percent in the first half of 2011 compared to the same period last year. There are no restrictions in Dongguan yet, but they might be adopted in time.


Editor:Zhang Dan |Source:

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