After a flurry of government moves to support the crisis-hit sector, a ministry publication reported on Tuesday that China’s housing regulator will work to keep housing supply and demand balanced, make home prices stable and strictly curb speculation.
According to China Construction News, led by the Ministry of Housing and Urban-Rural Development, China will make more targeted efforts to support demand for owner-occupied and improved housing to boost market confidence.
According to the report the regulator held a video conference On Tuesday vowing to promote home delivery, help resolve financing risks for property firms, and equally support the balance sheets of state-owned and private property firms.
In the last year, China’s property sector got severely affected as cash-squeezed developers were unable to finish apartment construction, prompting a mortgage boycott by some buyers. The authorities launches a flurry of support policies targeting home buyers and property developers to relieve a long-running liquidity squeeze that hit developers and delayed the completion of many housing projects.
According to the official data released on Tuesday, property Investment decreased by 10 percent in 2022. The first decline since records began in 1999, and the property fell by highest since 1992.
On Tuesday the statistic bureau also anticipated that due ti the enormous demand for owner-occupied and enhanced housing, the property sector’s impact on economic growth in 2023 will be much less than it was in 2022.
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