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China's preferential housing policy may cease at year-end: official

(chinadaily.com.cn)
Updated: 2009-11-05 11:33

China's stimulating preferential housing policy may come to a close by the end of the year, given the current active state of the real estate industry, according to Wang Juelin, vice director of Ministry of Housing and Urban-Rural Construction (MHURC), cri.cn reported.

Related readings:  Group housing project abandoned  Housing resale numbers slide 24%  Housing prices, sales jump in Beijing, Shanghai

The policy package includes reduced or exempted purchase and sales taxes and 30% discount on housing loans for the first dwelling of a family. The policies brought out last year aim to lift a slumping home market amid the global economic downturn.

"There is no doubt the GDP growth this year will be over 8%, so the stimulus policies may come to a close," Wang added.