Official Denies New House Price Policy

Official Denies New House Price Policy

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Shenzhen has not taken any new measures to curb house prices, city officials said yesterday in response to media reports that raised concerns across the country about potential market impacts.


Chinese-language media reported Tuesday （March 12） that Shenzhen’s urban planning, land and resources commission had issued a new rule ordering the average transaction prices of new houses to be no more than the average sale price of the previous month. Some transactions with high sale prices were said to have been rejected by the commission.

The spokesperson said Shenzhen has been following the national policy that requires increases in market prices of newly built houses to not exceed the growth target of yearly GDP.

To curb further price hikes in the house market, the government has tightened approvals for market entries of new houses since last September. The action permits high-priced houses to enter the market only along with moderately priced houses so price hikes will be kept at bay.


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