Guangdong's Department of Construction yesterday announced a 12 per cent year-on-year increase in the amount of land available in the province for commercial developments, a day after the central government issued tighter curbs on the housing market.
The department said 4,306 hectares would be available in Guangdong this year for the development of private residential, office, shopping, hotel and high-quality leisure projects. Although the department did not say how much of the available land would be allocated to housing, it maintained the increase could 'properly' expand the land supply for private housing projects and stabilise housing prices.
The department's announcement followed the State Council's unveiling on Monday of new measures aimed at promoting healthy development of what it described as a 'disorderly and chaotic' real estate market.
The Guangzhou Bureau of Land Resources and Housing Management yesterday said it did not have measures of its own to announce.
'We haven't got the official documents from the central government yet. It is impossible to set out measures based on newspaper reports,' a senior bureau staff member said.
An official from the Bureau of Housing and Land Resources in Shenzhen - which saw an average 14.1 per cent increase of prices in the secondary market in April - said the bureau would comply with the national policy, but the city had no immediate plan to introduce new rules of its own.
