The amount of land used for residential development fell short of full-year targets in 2010, slowing supply growth in the housing market, state media reported. According to a report released by the Ministry of Land and Resources, only 125,400 hectares of the 184,700 hectares of land set aside for housing were utilized over the course of last year. The ministry said it missed its target because of "inexperience" coupled with the fact that the goal was set only in April 2010. The report said land set aside for affordable housing increased 124.5% between 2009 and 2010, and accounted for almost 20% of land use last year. The government is expected to increase land supply this year and next in a bid to slow down price growth.
Categories