Yunnan eyes sound growth of real estate market

A press conference on accelerating the construction of modern industrial system in Yunnan was held in Kunming on September 11, when officials with Yunnan Provincial Department of Housing and Urban-Rural Development stressed on sound growth of the real estate market.

The steady and healthy development of the real estate market helps Yunnan in building up a modern industrial system and promotes high-quality development. The recently-issued Decision on Accelerating the Construction of Modern Industrial System stipulates that the added value of real estate industry in Yunnan will reach 235 billion yuan by 2025 and 330 billion yuan by 2030. 

“In developing real estate, we should first bring the industry back to its nature that housing is essentially for living, not a short-term means to stimulate the economy,” said Zhang Shaowen, chief engineer of the Yunnan housing department. “By putting first needs of the people, Yunnan aims to fulfill steady, healthy and sustained development of the real estate market.” 

The decision says that urban renewal, housing upgrade and balancing supply and demand are essentials in developing the real estate industry and breakthroughs to transform the economic development mode. Yunnan needs to incorporate urban systems into urban functions, putting together the urban and suburb land resources in planning.

Adjusting supply and demand on market, the Yunnan department aims to increase the housing volume, stabilize house prices, optimize the housing structure, and improve the living conditions and the housing-related management.

Building a world-class destination for healthy lifestyles, Yunnan will integrate cultural tourism and healthy elements into real estate projects, upgrading old residential quarters and urban villages.

In improving property management, the province will realize high-quality development of property services by training more professionals and upgrading property businesses.

Reporting by Zhu Dan (Yunnan Daily); trans-editing by Wang Shixue