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PostWysłany: Pon 23:02, 17 Sty 2011    Temat postu: China takes big steps in affordable housing to bri

China takes big steps in affordable housing to bring down real estate fever
China is pinning hopes on its affordable housing programs to cool its red-hot property market in the latest round of campaigns against rising asset bubbles,jordan women boots, after the government moved to crack down on market speculation during the past year.
Experts held that to increase supplies of affordable housing is the key solution to guide the market toward healthy development and help stabilize prices.During a talk show hosted by China National Radio on Dec. 26,cheap nike air max 24/7, Chinese Premier Wen Jiabao said the government will press forward housing price control and increase the supply of affordable houses for low-income earners.
His words came after the government had announced a plan to build 10 million more low-income housing units this year.China is working on a more healthy system that provides housing that meets different demands,air jordan women, after an array of policies,air pippen shoes, including tighter credit for commercial housing,air max 24/7, failed to produce satisfactory results in 2010.
In 70 major Chinese cities,nike air half cent, home prices rose 0.3 percent month on month and 7.7 percent year on year in November last year,ken griffey shoes sale, which was the third consecutive month prices rose.China started the construction of some 5.9 million units of affordable homes in 2010, of which 3.7 million were completed,air penny 1/2 cent, official figures showed.
Qin Hong,air jordan boots, a researcher with the Ministry of Housing and Urban-rural Development,jordan high heels, said the number of affordable homes is still "far from enough",nike ken griffey shoes, especially as more low-rent homes are needed for China's "sandwich class" families who either are disqualified for low-cost housing or cannot afford the sky-high prices of commercial housing."By attaching more importance to affordable homes and low-rent housing, it seems that the government is leading the market in the right direction," said Zhang Hanya, head of the Investment Association of China.
The latest report from the State Information Center(SIC) also noted that the construction of the 3 million affordable homes and 2.8 million units renovated in urban shantytowns is shaping the property market in a more reasonable manner."Only a dualistic structure that balances the development of both low-cost housing and commercial housing could ensure a stable and healthy market,air max 95 boots," said the report.
However, both policy makers and market observers have pointed out that the good intentions of the central government's regulations and construction plans could fade if local governments, which rely largely on land transfers for their revenues, fail to have them properly implemented.Zhang also warned that local governments might not be as eager as the central administration about affordable housing projects.
"The central government is determined to speed up affordable housing construction, but it depends on local governments to carry out the plans,dunk women boots," he said.Local governments could be reluctant to implement them,discount ken griffey shoes, as they are asked to both transfer the land at a low price and help finance these projects,Nike SB Heels, which will definitely reduce their fiscal revenues, he explained.
Despite that the past year had seen "the most strict curbs on property market", land transactions had brought 2.7 trillion yuan in revenue to Chinese local governments last year, a 70.4 percent surge year on year.In contrast, the Chinese central government provided 55.06 billion yuan to finance affordable housing construction in 2009, while local governments spent only 17.54 billion.
Xu Shaoshi, minister of land and resources, said earlier this month that the rapid increase in land transaction fees suggested that China's urban development is becoming more dependent on land sales,nike air foamposite one, which triggered an uneven distribution of interests and social conflicts.Experts suggested that the central government should take the implementation of affordable housing plans into consideration when assessing local governments' performance, and further improve the legal system to enhance supervision over enforcement of housing projects.
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