China to Bar Some Developers’ Land Purchases, Add Supplies
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China will bar companies that have held land for more than a year without developing it from buying additional plots, seeking a “reasonable” correction in the nation’s home prices, the government said.
The government also will increase land available for smaller, affordable apartments in cities with high prices, according to a statement on the Ministry of Land and Resources’ website today. No parcels should be used to build large, high-end homes before the supply of government-supported housing is met, it added.