CRI News Report:Experts Call for Market-Oriented Measures to... 简介：Download MP3 Audio 把音频贴到我的博客(Qzone)或BBS 关闭MP3地址:音频页面地址:Experts Call for Market-Oriented Measures to Make Homes AffordableChinas p…
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Experts Call for Market-Oriented Measures to Make Homes Affordable
China's property market is undergoing a new round of tough government regulation amid unaffordable housing prices and fears of an asset bubble.
Some economists predict that the government's measures will keep property speculation in check and satisfy low-income residents' housing needs.
But others argue that the government should take more market-oriented policies to assist disadvantaged citizens rather than merely interfering in the property market. Xu Weiyi reports.
The State Council, China's Cabinet, has decided to raise the minimum down payment for second-home purchases to 50 percent.
It's also set a 30 percent minimum down payment for purchases of first homes that are larger than 90 square meters.
Yao Jingyuan, chief economist with the National Bureau of Statistics, says the measures are aimed at curbing property speculation.
"Property speculation is one of the driving forces behind the surge in housing prices. With the new measures, speculative home buyers will have to pay higher costs when investing in the housing market. So, housing prices may go down to some extent as property speculation will be on the decline."
Meanwhile, the State Council has strengthened its efforts to help low-income house buyers.
It's urged local governments to increase land supply for the construction of government-controlled houses to 70 percent of the total land approved for property development.
But, Dong Fan, a researcher from Beijing Normal University, does not favor the measure.
"If we build government-controlled houses on a massive scale, we cannot prevent corruption among some officials and property developers during the process of construction and delivery of the houses. Thus, the needy group of home applicants still cannot obtain a house."
The Ministry of Land and Resources has announced that the government will build three million non-commercial flats for low-income residents.
Dong Fan points out that the government should also explore other effective ways to meet residents' housing needs.
"The government-controlled houses are a good way to solve the housing problem. But we should not build so many. I think the government should take more market-oriented policies and avoid harming the natural operation of the property market. For example, the government can directly subsidize low-income home buyers and tenants to satisfy their housing needs."
The National Bureau of Statistics has reported that the average housing prices in 70 major Chinese cities rose nearly 12 percent in March from a year earlier.
Among them, two cities in southern Hainan Province recorded the fastest growth rates, both exceeding 50 percent.
Such soaring prices have deprived many residents of access to a decent house.