BEIJING : China needs more effective implementation measures such as lower home mortgage rates and down payment ratios for first-time home buyers to help spur home purchases, state media quoted a Chinese official as saying.
Speaking at a recent symposium with property developers and construction firms, Ni Hong, minister of housing and urban-rural development, underlined the significance of meeting residents’ essential housing demand and their needs for better living conditions, Xinhua reported late Thursday.
Ni promised efforts to ensure the delivery of presold homes, urging more action across the sector to consolidate the recovery of the property market.
Ni said the ministry has urged building companies and property developers to actively participate in affordable housing projects, the renovation of villages in cities, and public facility construction.
“It is necessary to deepen the structural reform of the housing supply side, strengthen scientific and technological empowerment, improve the quality of housing, and build ‘good houses’ for the people,” he said.Source: reuters
