Letters and Blogs

Crack down on land speculation

Land speculation has become a main source of profits for real-estate developers and if related departments do not act to address the issue, it is likely to cause severe problems concerning people's livelihood.

The reasons for the prevalence of land speculation are obvious. First, it is easier for developers to get loans if they are holding extensive land parcels. Second, although local governments are supposed to push developers to start construction or revoke land-use rights if they fail to develop an acquired plot, the policy has never been enforced seriously. Third, property developers make big money from hoarding plots.