The State Council has issued an urgent notice to governments at all levels urging them to set up and implement new compensation standards for land requisition before July.
China will not launch taxes on holdings of more than one residential apartment for at least another three years, a government think tank official has said.
China's central government has allocated 16.7 billion yuan ($2.45 billion) to help fiscally stretched local governments solve the housing problems of low-income urban families, the Ministry of Finance said Thursday.
Beijing is to ban sales of apartments created from hotel properties because those apartments are unable to guarantee house buyers' rights and interests, the Caijing.com reported Thursday.
The central government has urged provincial governments to step up efforts to ensure the supply of affordable housing by holding top provincial leaders accountable for the task.
China's disciplinary watchdog has released a set of rules outlining punishment for Party members in leading positions meddling in the real estate industry, in an effort to uproot corruption in the field.
Shanghai plans another 23 large residential communities in non-central areas of the city this year as it moves to increase the supply of affordable housing, officials said Friday.
China may issue regulations on widening the scope of the real estate tax (also known as property ownership tax) before May 20, an unnamed expert told the 21st Century Business Herald, but an official from the country's taxation bureau declined to comment on this matter.
The Shanghai municipal government may release detailed regulations for the property sector in two weeks, in line with central government policies, to curb housing speculation and soaring prices in the local market, an industry insider said on Wednesday.
Shanghai will reveal the details of its tightening real estate policies as early as the end of this month, including its long-debated property-ownership tax on multiple homes, Shanghai Securities News reported today.
Senior officials are pushing to implement property tax amid intensified efforts by the authorities to rein in soaring housing prices to promote a healthy and stable real estate market.
With new home prices rising by almost 20 percent a month, Haikou would seem to be the dictionary definition of a property market bubble.
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