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Xinhua | Updated:2017-04-08 11:06Buildings in Beijing, March 27, 2017. [Photo/VCG]BEIJING – Beijing announced plans Friday to supply 6,000 hectares of land by 2021 in a bid to meet the market demand of 1.5 million units of residential houses.
Beijing plans to supply 5,000 hectares of state-owned construction land and 1,000 hectares of collectively-owned construction land in the following five years, according to the Beijing Municipal Commission of Urban Planning and Land and Resources Management.
Seventy percent of the land will be used for the construction of residential houses with property rights, while 30 percent of the land will be used to build rental houses.
In 2017, Beijing will offer about 1,200 hectares of residential land to build 300,000 units of residential housing.
Analysts said the rising supply of residential land is aimed at relieving the supply-demand contradiction in Beijings property market and help stabilize housing prices.
In March, Beijing introduced a spate of measures, including higher down payments, higher mortgage rates and tougher purchase restrictions, to cool the red-hot property market.Related StoriesHousing woes – the Lion City can do much more than HKChina strengthens control of housing, land useXiongan New Area restricts housing purchase, constructionBeijing ramps up spending on housing renovationBlowing housing bubblesPhotoHow Chinese gave new life to Maine lobstersPic story of Finnish airline FinnairCat waiters welcome guests in BeijingFarmers harvest tea leaves before Qingming FestivalA look inside Seouls 2017 motor showTime travel with vintage carsMost Viewed in 24 HoursTop 10Top 10 cities with largest GDPEditors picksGlobalization helps NZ family business tap China marketChina Monthly Economic Data: Jan-FebChina DataChina Monthly Economic Data: Jan-FebQ&A With CEOSourcing top-notch talents for China IncRiding opportunities in huge unmet needsSpecialBoao Forum for Asia Annual Conference 2017China Development Forum 2017BACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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