China will continue to curb property speculation next year, and will strengthen the implementation of measures to curtail rising home prices, said a local report, quoting Housing Minister Jiang Weixin.
Chinese officials present in the ministry’s year-end work meeting noted that “it remains an arduous task to curb overly fast property price rises in 2011.”
The country has implemented a series of tightening measures to curb the property market this year, including speeding up trials for property tax cases, suspending third-home loans, and raising down payments for first-time home buyers, which have “helped contain speculative demand to some extent,” said Jiang Weixin, Minister of Housing and Urban-Rural Development.
The Minister noted that China’s Housing Ministry would assess the local government’s performance in cooling property prices to ensure that all measures implemented by the central government are properly carried out.
China also promised to continue increasing land supply available for housing projects and improve management of the Public Housing Fund next year.