--FILE--View of residential apartment buildings in Sanya city, south Chinas Hainan province, 30 January 2010. Non-locals will only be allowed to buy five houses or condos in Chinas southernmost resort city of Sanya in Hainan Province to stop speculation after the central government approved plans on December 31 to turn the tropical island into an international tourism destination. Sanyas housing and urban-rural construction bureau published limitations against real estate speculation at the end of last month, said Li Honghai, director of the bureau. More than 80 percent of the houses sold in Sanya were for investment or speculation purposes, Li added. Local housing prices soared immediately after the central government approved the plan over Hainans tourism development, according to a report. A development in Sanya even set a record of a 50 percent jump in a day, the report said. Local residents have complained to state media that they are worried about being able to afford to live there.
