In March 29, after the announcement of annual housing price control targets in cities like Shanghai, Guangzhou announced its price control objectives for newly built houses in 2011.
According to people close with Guangzhou Municipal Land Resources and Housing Administrative Bureau, the price control targets for the newly built houses in Guangzhou this year is that the year-on-year rise of the house price should be below the rise of GRDP (Gross Regional Domestic Product) in Guangzhou and the rise of its disposable personal income per capita. The newly built houses include the new commodity housing, capped-price housing and affordable housing.
Based on the municipal government work report passed in the Guangzhou Municipal People's Congress in 2011, it's predicted that the rise of the GRDP in Guangzhou and the per capita annual disposable income among local urban residents in Guangzhou will reach 11%. However, it's notable that the figure is just an expected index, which is not able to indicate that the housing price control targets must be below 11%.
(Translated by Guangzhou Association of Foreign Affairs Translators)
