Search Articles

in

Recommended For You

US pending home sales index dropped one per cent in Aug
US pending home sales index dropped one per cent in Aug

The Business Times -
30 Sep 2014

US pending home sales index dropped one per cent in Aug


UK August mortgage approvals fall exceeds forecast
UK August mortgage approvals fall exceeds forecast

The Business Times -
30 Sep 2014

UK August mortgage approvals fall exceeds forecast


Why billionaire is building own house in Tokyo
Why billionaire is building own house in Tokyo

The Business Times -
30 Sep 2014

City sees a luxury housing shortage amid a wealth boom



Latest Overseas Ads

Holland Park
Holland Park England Apartment, For Sale

A new development of 41
one, two and three
bedroo


Marina Tower Docklands, Melbourne
Marina Tower Docklands, Melbourne Apartment, For Sale

The Ultimate in Luxury
Lifestyle Panoramic Sea
Vie


 Puteri Cove Residence - Condo @ Puteri Harbour
Puteri Cove Residence - Condo @ Puteri Harbour Johor Condominium, For Sale

Prime Tier 1 FREEHOLD
Luxury Waterfront Mixed
Used



Featured Videos

Newsletter

Subscribe to receive the hottest news & property trends, updates on popular properties and promotions from STProperty & our partners

Overseas Property News

China ban on sale of homes on rural land remains

China has reinforced a ban on selling property built by villages or farmers on rural land, state media reported yesterday, dashing hopes for a quick policy change after a top-level party meeting.

The Business Times - November 26, 2013

| More
China ban on sale of homes on rural land remainsOut of reach: Sky-high property prices in urban projects such as these have driven many city dwellers to buy low-cost homes in the villages. - PHOTO: BLOOMBERG

[BEIJING] China has reinforced a ban on selling property built by villages or farmers on rural land, state media reported yesterday, dashing hopes for a quick policy change after a top-level party meeting.

The Ministry of Land and Resources and the Ministry of Housing and Urban-Rural Development have jointly issued an urgent circular ordering a halt to sales of "small-property-rights housing", which is built on rural land without going through state planning, the Economic Information Daily said.

Expectations that the government may relax controls on sales of such property rose after the party meeting this month pledged to allow rural construction land to be traded in a unified urban-rural market, enjoying the same rights and prices as state-owned land.

Chinese urban citizens have been prohibited from buying rural houses with limited property rights, with the government warning that such purchases do not enjoy legal protection. But sky-high property prices in cities have driven many urban dwellers to buy such low-cost homes.

"A buying frenzy has occurred in some places amid hopes that such 'small-property-rights housing' could be legalised," the newspaper said.

China's home prices have continued to set new records even after a four-year long official campaign to cool the market. The government is concerned that runaway prices could foment social unrest.

The paper quoted Xu Deming, a vice-land minister, as saying that the party plenum's decision to allow some rural land to enter a unified urban-rural land market was "on the premise of conforming to the planning and is under usage supervision".

In China, land in urban areas is owned by the state and can be freely traded. Land in rural areas is owned by collectives - villages and townships - and contracted out to farmers.

Rural land can only be used for property or industrial development after being requisitioned by the state. - Reuters

| More

Pay less cash upfront for small BTO flats

Pay less cash upfront for small BTO flats

The Straits Times - 25 Sep 2014

Pay less cash upfront for small BTO flats


Waterfront@Faber to be relaunched

Waterfront@Faber to be relaunched

The Business Times - 26 Sep 2014

Some 77 units were sold at the 210-unit project up to Aug 25


2 sites released for sale to yield 1,000 homes

2 sites released for sale to yield 1,000 homes

The Business Times - 26 Sep 2014

2 sites released for sale to yield 1,000 homes

View articles from these categories

X

China developers targeting smaller cities

The Business Times - November 26, 2013