The property prices in 70 large and medium cities in China, a barometer for the evolution of house prices rose 1.5 percent in 2009, from year to year, said National Statistics (NBS) Thursday.
The property prices in these 70 cities rose by 9.5 years per cent on an annual basis in January 2010, BES show the continuing vitality of the increases in house prices, fueled the concerns of the new government and public complaints.
Analysts attributed the rise in house prices to increase domestic demand, speculative trading and relatively easy credit.
The property prices in China have begun to sweep since May 2009 and the sharp rise in prices accelerated to national real estate concern that has set up a housing bubble. China's central and local levels have taken steps to reduce the bubble.
The General Office of the State Council of China, January 10, notice is required to strengthen the institutions of central government and local governments manage to stabilize market expectations and facilitate a healthy and stable development of the property market.
The opinion of the 11 specific measures, including increasing the supply of low cost housing for low income families and shared houses to promote adequate home market while reducing market speculation and investment, strengthening the capacity of project risk management lending and market surveillance and reporting responsibilities of local government.
The central government requires that the advance should be provided for families who have supported the purchase of second homes or multiple no less than 40 percent of loans and mortgage rates should be determined solely on the basis of credit risk.
The Beijing Municipal Bureau of Land and Resources said Feb. 1 that it was the right Dalong Beijing Weiye Real Estate Development Co cancel the purchase of land after the deadline for the signing of the Memorandum of missing property transfer.
Dalong was not alone. Authorities in the eastern city of Nanjing, said Feb. 3 had to buy the rights to two developers, residents have won an auction retired two years ago.
Analysts said the measures showed the commitment of local governments, pour hot water on the housing market and stabilize home prices.
Chinese Premier Wen Jiabao said December 27, 2009 in an exclusive interview with Xinhua that the government will say in real estate in China, and the anger against illegal activities that had been pushed property prices.
House prices in China have experienced a slower pace in 2008, partly focused on the impact of the global economic downturn and rising house prices in 2007.
Chinese property prices have started to resume at the national level since April 2007 has increased by growing demand and strong economic growth, housing prices in 70 large and medium cities rose by 7.6 percent for the Fiscal 2007 compared with 2006, data showed NBS.
This year the annual increase in house prices during 2007 growth 2.1 percent from 2006 levels.
