Beijing approves expensive property projects in capital
Beijing authorities have given this year's first pre-sale approvals for two expensive projects, stoking expectations that the capital city will ease its property curbs.
Beijing authorities have given this year's first pre-sale approvals for two expensive projects, stoking expectations that the capital city will ease its property curbs.
The city's housing bureau announced that the first pre-sale permit was issued on Sunday to a project called Thaihot Cathay Courtyard in Chaoyang district, with the highest price set at 100,537 yuan (HK$128,800) per square metre for a house with gross floor space of 352.54 square metres.
The cheapest unit in the project, developed by the Fujian-headquartered and Shenzhen-listed Thai Hot Group, is priced at 53,072 yuan per square metre.
The year's second permit was issued the same day to a project in Fengtai district with an average price of 67,000 yuan per square metre. It is developed by an obscure company.
The prices exceed the previous ceiling imposed after a meeting in November last year that barred any residential property project priced above 40,000 yuan per square metre, or over 10 per cent higher than neighbouring projects.
"It is a signal that Beijing will probably cancel the licence restriction this year to bring its cooling measures in line with the central government's preference for market-oriented policies," said Jiang Yunfeng, a research director at China Index Academy, the mainland's biggest real estate consultancy.
