Special campaign to rein in real estate sector
By Zhan Lisheng (China Daily)Updated: 2007-06-08 09:17 He added that the campaign is expected to curb the rising house prices, especially in big cities like Guangzhou and Shenzhen, while still allowing the province's property market to develop.
"If measures are implemented by the book during the campaign, the development of Guangdong's real estate market will definitely be more orderly, and housing prices will probably fall," said Cai Suisheng, secretary-general of the Guangdong provincial real estate association.
"Potential home buyers in Guangzhou and Shenzhen and other Pearl River Delta cities where property prices have surged so much will certainly take a wait-and-see approach," he added.
Many people, especially those who have not yet bought homes in the province, have applauded the provincial campaign.
Gao Weijie, an employee of an advertising company in Guangzhou, told China Daily: "Housing prices in Guangzhou are unbearably high. I hope rather than wish that the provincial government's campaign will keep prices down."
"Both property developers and government officials, especially those in charge of land resources, housing management and urban planning, should be under closer scrutiny to minimize under-the-table practices," Gao said.
The average price of housing in the province was 5,750 yuan ($740) per square meter in March, up 22.38 percent from a year ago. April's figure is not yet available.
And the average price in Guangzhou, the provincial capital, was about 7,600 yuan per square meter in April, compared with about 3,900 yuan per square meter in 2003.
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