Real estate rules prove effective in Hainan

April 16, 2010 | BY

clpstaff &clp articles

Recent measures promulgated by local authorities in Hainan province have successfully curbed soaring real estate prices.     On March…

Recent measures promulgated by local authorities in Hainan province have successfully curbed soaring real estate prices.

    On March 5 2010 the southern island issued strict regulations that included the payment of land grant money within 60 days after land contracts take effect and ordered the transfer of officials who weren't able to carry out the task of building indemnificatory housing.

    Real estate prices waned, indicating the effectiveness of the cooling measures. On March 22, a Hainan government official announced it would resume land leasing and real estate development.

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