Beijing has announced it will supply 5,000 hectares of state-owned construction land and 1,000 hectares of collectively-owned construction land by 2021 to meet the market demand of residential houses.
Seventy percent of the land will be used for residential houses, and the remaining 30 percent will be used to build rental houses.
During the last five years plan from 2011 to 2015, the land supply plan was 9,300 hectares, almost double the one just released for this period. This year, Beijing will offer 1,200 hectares of residential land, two and a half times as much as last year.
Analysts said the supply of residential land aims to ease the contradiction between supply and demand in Beijing's property market and help stabilize housing prices.
In March, Beijing introduced a spate of measures, including higher down payments, higher mortgage rates and tougher purchase restrictions, to cool the red-hot property market.
