Desire to buy home drops to record

According to the survey, 11 per cent of urban residents said they had saved money for the purpose of buying a private home or refurbishing, a decline of 0.4 percentage point from the previous quarter and 0.8 percentage point from the same period a year ago another all-time low. On May 11, seven gove...

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Bibliographic Details
Published inChina daily (North American ed.)
Main Author Su, Bei
Format Newspaper Article
LanguageEnglish
Published New York, N.Y China Daily 08.06.2005
EditionNorth American ed.
Subjects
Central banks
Housing prices
Interest rates
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Summary:According to the survey, 11 per cent of urban residents said they had saved money for the purpose of buying a private home or refurbishing, a decline of 0.4 percentage point from the previous quarter and 0.8 percentage point from the same period a year ago another all-time low. On May 11, seven government departments, including the Ministry of Construction, Ministry of Finance and the National Development and Reform Commission, announced eight detailed measures including tax policies and stricter land supply controls to strengthen macro- control of the real estate sector. Wang Zhao, a senior researcher with the State Council Development Research Centre, said the eight measures, which gave equal emphasis on both home supply and demand, are beneficial to the healthy development of the real estate sector.
ISSN:0748-6154