More property curbs expected
Updated: 2012-08-24 17:33
By Li Jiabao (chinadaily.com.cn)
The Ministry of Housing and Urban-Rural Development is studying more policy measures with other authorities to expand the curbs on the real estate market, Xinhua News Agency cited an unnamed source from the ministry as saying.
In late July, China's State Council sent out eight inspection teams to 16 provinces and cities to inspect the implementation of property regulation policies by local authorities.
The inspection teams found increases in property prices and easing of the policies by some local authorities. The inspection teams told those authorities to correct the moves immediately, and that they were not allowed to ease the curbs, Xinhua reported on Friday.
The launch of new property projects and the cuts of property loan interest rates released the restrained property demand in the past months. The size of newly built residential projects for sale reached a record high at the end of July in key cities, while turnover edged down since August. China's real estate market will keep fundamentally stable development, the source said.