According to the Guangdong Construction Work Conference held on February 14, appropriate control on the real estate market will be strengthened to stabilize property price.

Last year's statistics show that over 36 million square meters of commercial property was sold in the province. 32.9 million square meters of the property is for residences amounting to a sales volume of 130.9 billion yuan, up 20 percent and 29.72 percent respectively.

Average sales price for residential properties was 3,746 yuan per square meter, up 7.73 percent. Despite the price growth, only 11.52 million square meters were not sold, down 5.42 percent. To provide an appropriate development guideline for the real estate market, this year the province will control the number of high-end property projects and encourage more property construction for middle or low income families.

Editor: Yan