How to curb realty speculation

Comment on "Local property markets under scrutiny" (China Daily, July 25)

The authorities should be able to tell the difference between speculative buying and long-term investment (the latter includes first-time buyers).

And local authorities should share their databases on house ownership with the central database to complete the full picture of the domestic property market.

Moreover, the authorities must separate property investments and affordable houses, which are being developed to serve the poor in China. In addition, the age limit of borrowers or mortgagees should extend to 70 years instead of 60, and accordingly people's working age, too, should be extended.

All these measures can be used effectively to curb speculation in the real estate market and promote home ownerships.

Elee, on China Daily website

(China Daily 08/11/2012 page6)