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Beijing(CNS)-- The government should increase the supply of low-priced housing to guarantee "affordable, reasonable and suitable living space" for all people residing in cities, according to a report released Wednesday by the National Academy of Economic Strategy under the Chinese Academy Of Social Sciences (CASS).
The major conflict for the Chinese property market is structural, with the biggest problem being that home prices are unaffordable and there are not enough affordable homes, the report said.
Striking a balance between supply and demand is one of the measures to improve the current housing security system, it said.
The report suggested a differentiated property tax policy, saying the government should levy a property tax on all homes featuring more than 40 square meters per person.
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