85% of Sanya’s residential properties sold to non-islanders
Mr. Wang, the mayor of Sanya, said at a briefing at China’s annual parliamentary meeting on Tuesday that the house prices in Sanya are generally remaining stable.
He noted that 85% of Sanya’s commercial residential properties have been sold to people from outside the province, including foreigners.
To solve the living needs of low-income families, Sanya has started increasing its housing supply by introducing a series of affordable housing projects in recent years. In 2013, nearly 39,000 apartments, covering a total area of 3.827 million sqm, were built in Sanya.
Mr. Wang also mentioned that more focus is being shifted to the emerging serviced apartments and property right hotels, which will help foster the transition of the real estate market.
In response to the public’s concern that the control of residential properties may have led to a second wave of price hikes, Mr. Wang said the high-end real estate and residential properties are different types of houses, which would not affect each other.