Policies to curb real estate demand are bearing fruits

China's real estate market has entered a new stage this year. In the first seven months, the authorities adopted policies to curb the unreasonable real estate demand. Till the end of July, more than 50 prefecture-and higher-level cities and 10 county level-cities had issued real estate policies to curb demand. But on the other hand, the authorities have emphasized the importance of adequate supply to stabilize the supply-demand relationship.

In May, the Ministry of Housing and Urban-Rural Development required first-and second-tier cities to devise their respective housing development plans for the 2018-22 period before the end of this year, for which they have to increase the supply of middle-and low-priced housing, and land for rental and joint-property housing.

Metropolises such as Beijing, Shanghai and Shenzhen have already issued their housing development plans.