June 20 (NBD) -- With the establishment of a unified national real estate database, China's online real estate registration system is now fully operational.
The database is used by 3,001 property registration stations in 335 cities and 2,853 counties serving more than 300,000 enterprises and individuals averagely each day, according to the Ministry of Natural Resources.
With the property right registered and connected to the unified database, the property rights of the owners will be ensured. Such progress is believed to accelerate property tax legislation.
It also sparked discussion on whether such steps will help bring down housing prices.
Zhang Dawei, chief analyst at Centaline Property, said the property registration is not a real property regulatory policy in essence, but can make the market better regulated.