Home prices depend on monetary, urbanization policies

China's home prices for 2013 largely depend on the country's monetary and urbanization policies, industry experts said at a forum over the weekend.

"We are looking forward to more detailed policies related to urbanization," Qin Hong, director of the Policy Research Center with the Ministry of Housing and Urban-Rural Development told a forum organized by Go-high Capital.

Urbanization is regarded as one of the key drivers of China's economic growth in the coming decade. The urbanization ratio first exceeded 50 percent in 2011. However, if residents who do not have urban resident permits are excluded, the actual urbanization ratio is still below 40 percent, much lower than the average figure for developed economies.

On the demand side, the central government will likely continue to constrain investment-oriented home purchases, but will encourage reasonable self-use home buying, experts said.

At the two-day Central Economic Work Conference over the weekend, government officials vowed to continue to tighten real estate policies, while quickening the construction of affordable housing.