On September 26, Chen Qiwei, a spokesperson for the Shanghai
municipal government, said Shanghai would more harshly compel real
estate developers to launch their newly constructed commercial
residential buildings onto the market. This measure is aimed at
stopping the developers' speculative activities, which contribute
to driving up the already high housing prices in Shanghai.
Chen said that by the end of this year there would be likely 4.5
million square meters of new houses that can meet the presale
standards and all of them would be put onto the market.
In addition, Chen pointed out that Shanghai's real estate market
is balanced overall, but recently the growing demands have boosted
both the housing trade and the pressure of price hikes. Shanghai
will enhance control and adjustment of the market to make the
average commercial residential buildings available to ordinary
citizens.
For details, please read the full story in Chinese. (
http://www.china-cbn.com/s/n/000002/20070927/000000079828.shtml)
(China.org.cn September 27, 2007)
