Two years after the real estate regulation had been implemented, the speculative demands are basically out of the market now, reported Shanghai Securities News on Monday, citing an official.
According to the report, Qin Hong, director of the Policy Research Center of Housing and Urban-Rural Development Ministry, said at the 2012 Strait Real Estate Forum in Fuzhou, Fujian province that real estate speculative demand has been effectively restrained.
She said the aims of the current round of real estate regulation are very clear. The first goal is to restrain the speculative demand in real estate market, contain rising housing prices and the other goal is to construct affordable housing to meet the demands of the market.
Qin also noted that the development space of China's real estate market will remain big in the future, especially for individual purchasing needs and improving housing condition. However, the growth rate of the property market will decrease, Qin added.