House Prices: Changing the City World by Unknown

Author:Unknown
Language: eng
Format: epub
ISBN: 9789813291119
Publisher: Springer Singapore

7.6.4 Guangzhou’s Experience in Enhancing Urban Competitiveness Through Appropriate Housing Prices

Implementing strict and effective housing regulation policy

For a long time, to promote the healthy and orderly development of the real estate price, Guangzhou has strictly implemented the national macro-control policies, and proceeded from its own situation to introduce a series of targeted measures on land supply, market regulation, industry guidance, etc., effectively avoiding the drastic fluctuation of housing prices. In as early as 2012, Guangzhou took appropriate measures to limit the size of pre-sale and control the pace of transactions against several abnormally high-priced residential projects in the urban area, in an effort to address the city’s average price rise due to structural imbalance, actively guide developers to make reasonable pricing and stabilize the expected housing price level, thus pioneering the “restricted sales” of new commercial housing nationwide. In 2013, Guangzhou laid down and achieved the regulation goal of keeping the growth rate of the city’s newly-built commercial housing price lower than the actual growth rate of per capita disposable income of urban residents. Since 2016, against a new round of rising in housing prices, in accordance with the state’s requirements of classified regulation and city-based policies, Guangzhou has strictly supervised the conduct of the supply side, the demand side and the intermediary through the policy portfolio of limiting the loan, the purchase, the price and the sale, market rectification, controlling land supply, and launching affordable housing projects, etc. It has effectively curbed the overheated development of the real estate market and maintained the dominant position of its housing price among first-tier cities in the country.

Implementing multi-level housing guarantee policies

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