Land ministry issues notice to control housing land prices
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The Ministry of Land and Resources (MLR) released a notice on Thursday urging local authorities to control land auction prices in urban areas.
The notice required local authorities to take steps to enforce urban housing land regulation and control and resolutely guard against land auction prices from hitting new record high.
Further, land authorities on all levels are to guarantee that there would be enough land available for the construction of the 10 million affordable homes that the country aims to build this year.
Furthermore, the land allocated for affordable housing, shantytowns transforming program and small and medium-sized commercial housing, should account for no less than 70 percent of the total housing land supply this year.
Meanwhile, the total housing land supply should not be less than the average land supply area during the past two years, said the notice.
The ministry also asked local governments to supervise housing development and to crack down on land hoarding and speculation.
Principal officials of local land authorities should be responsible for the land used for construction of affordable housing this year, according to the notice.
The ministry will make public detailed land-use plans and names of responsible local land officials, it said.
