Portion Control
Property Report|June - July 2021
As China’s central government aims to rein in runaway real estate prices, new measures will restrict land auctions to three per year in large cities including Beijing and Shanghai
Steve Finch
Portion Control

China’s government rarely times announcements by accident. A day after the Chinese New Year holiday, and exactly two weeks before the start of the country’s largest political meetings of the year—the “two sessions”—Beijing’s bureaucrats coined their latest policy term.

Within days, the city governments of Tianjin and Zhengzhou dutifully arranged meetings to discuss these new regulations, quickly followed by officials in other major cities. All hastily issued notices employing the new watchwords set to instruct China’s property market: liang jizhong, or the “two centralisations”.

The policy requires China’s 22 largest cities to hold just three land auctions each per year. It also requires them to publish timetables well in advance with details of the plots available in a bid to end panic buying by developers, which have driven up land prices and, in turn, the cost of owning a home in China.

Municipal governments are also required to increase the area of land available over time, thereby guaranteeing adequate supply.

A Chinese journalist compared the new policy to a formal meal at which diners would now be instructed to form an orderly queue, having been shown the menu well in advance. This would contrast with the previous system: a last-minute, all-you-can-eat buffet with limited and unpredictable supplies of everyone’s favourite dishes.

Denne historien er fra June - July 2021-utgaven av Property Report.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra June - July 2021-utgaven av Property Report.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA PROPERTY REPORTSe alt
Singapore Starts To Swings
Property Report

Singapore Starts To Swings

Generous stimulus has saved the Lion City’s economy from disaster, and a percolating post-pandemic boom looks set to send the residential sector into overdrive

time-read
8 mins  |
August - September 2021
Natural Highs
Property Report

Natural Highs

With people seeking safe ways of re-engaging with the outside world, the pandemic has steered investment in key ski markets back on-piste

time-read
5 mins  |
August - September 2021
It's In Hua Hin
Property Report

It's In Hua Hin

A long-time favorite of Thai royalty and weekenders travelling from Bangkok, the famous beach town is adding some alluring new strings to its bow

time-read
3 mins  |
August - September 2021
Blues In The Blood
Property Report

Blues In The Blood

As China’s cities explode, its built heritage is often neglected. Hangzhou-based Bluetown Architects aims to redress that balance through its striking but functional work

time-read
6 mins  |
August - September 2021
Little Joy Soldiers
Property Report

Little Joy Soldiers

Real estate sales offices are reopening in Yangon, but banking problems, low confidence and oversupply mean a bleak outlook as the army seeks to entrench rule

time-read
4 mins  |
August - September 2021
Youth Movement
Property Report

Youth Movement

Young members of a storied family shift property development in Cebu forward with a smart, green commercial tower, rising tall above an heirloom estate

time-read
7 mins  |
August - September 2021
Gift From Above
Property Report

Gift From Above

Source Global is tapping into a renewable source— the sky—to supply drinking water to residential communities and commercial properties in Asia

time-read
6 mins  |
August - September 2021
Proptech Is Enhancing Efficiency And Human Experience
Property Report

Proptech Is Enhancing Efficiency And Human Experience

The pandemic has forced the real estate industry into a more meaningful embrace with technology after years of flirting with innovation

time-read
8 mins  |
August - September 2021
Legacy Of Handy, Individualistic Inventions
Property Report

Legacy Of Handy, Individualistic Inventions

The global crisis has caused unprecedented pain, but its extraordinary nature has seen it spawn a legacy of handy, individualistic inventions

time-read
1 min  |
August - September 2021
Wave Of Mutilation
Property Report

Wave Of Mutilation

Lockdown disruption, evolving working conditions and an exodus by offshore gaming operators have sent the vital office space sector in the Philippines into freefall

time-read
7 mins  |
August - September 2021