Foreign Property News | Posted by Hnin Ei Khin
The country will stick to the principle that "housing is for living in, not speculation" and must not take real estate as a short-term stimulus to the economy, said Wang Menghui, minister of Housing and Urban-Rural Development, at a national work meeting.
The country's property sector has remained stable in 2019 amid tailored housing regulations for different cities, Wang noted.
The ministry will step up support to ensure housing for low-income families in cities next year and further develop rental housing, he said.
Zhang Dawei, chief analyst with Centaline Property Agency, noted that next year's property regulation and control work will be based on stabilization, adding the investment feature of houses should be weakened while its residential function highlighted, Economic Information Daily reported on Tuesday.
Ref: Global Times - Xinhua