Country to Keep Close Tabs on Housing Property Market Prices
In 2014 the government is planning to maintain control of the property market in China and at the same time increase the land and housing supply in cities that are facing big home prices. home prices in large Chinese cities have set records even with a four year long campaign that cools down the market and add a threat in the price bubble and created social unrest as the housing started to become unaffordable.
Housing minister Jiang Weixin stated that the government will keep continuity and stability of the implemented policies in 2014 and will further implement the existing policies properly.. the minister’s comments came after home prices has risen in the quickest annual pace on record ecen with signs that emerging government efforts might have started to bear fruit as the months slowly came. Policy analysts are expecting that the policy makers will slowly switch into a more market based level which will include property tax to avid a price bubble.
The Central Government is focusing on giving differentiated policy guidance to several cities to take account different market conditions and slowly adding cities where increases are large and where tightening measures are strictly implemented. The Central Government created a tough campaign in 2009 in the efforts to curb property prices which included strict measures for mortgages and restrictions on the number of homes that family can own.