Clearer laws and regulations called for property market

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Experts say cleaning up property market isn't going to be easy, as demand for these limited rights houses have been high in recent years and it may hurt the interests of some county-level governments. Industry insiders are calling for clearer laws and regulations, and more subsidized houses.

Hu Jinghui, the Vice President of B.A. & 515J Group, said:" These houses are much cheaper than regular homes because of lower costs in developing the land. That's a main reason why they're attractive to home buyers. Local governments are also making profits from sales of these homes. We need to put clear regulations in places to halt projects that are being built, and prevent buyers from skirting the rules and becoming legal home owners by going through certain procedures. And to get to the root of the problem, we need to call off construction of residential houses on collectively held land. "

 

Editor:Bai Yang |Source: CNTV.CN


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