Caixin
BUSINESS & TECH

Keep Home Prices in Check or Else, Ministry Tells Cities

House-hunters visit a sales office in Rizhao, Shandong province, on April 30. Photo: IC
House-hunters visit a sales office in Rizhao, Shandong province, on April 30. Photo: IC

The Housing Ministry has warned local governments to keep ballooning house prices in check or answer for their failures, as property speculators spill into China’s second- and third-tier cities.

The Ministry of Housing and Urban-Rural Development gave the warning at a symposium in Shenyang, and said that it is moving to develop a real estate market monitoring system that will allow it to better oversee control mechanisms at a more-local level.

ladingImg
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
Copyright © 2017 Caixin Global Limited. All Rights Reserved.