Despite attempts by the central government to clamp down on the red-hot property market, even by issuing an ultimatum, economists say the measures are not helping. The Ministry of Construction last week ordered all cities to launch a low-cost housing system by the end of the year, and to publish their plans within three weeks. Minister Wang Guangtao said on Thursday that the ministry would check up on the plan's implementation, and especially on construction of low-cost housing, in the next quarter. Mr Wang said relevant cadres in cities where the policies were not followed properly and housing prices remain high would be investigated. He said the measures to control the property market did not achieve much and housing prices were still too high. This was because local governments did not fully understand the policy, he said. However, scholars are not enthusiastic about the new administrative notice, saying it would do little to cool the market. Yi Xianrong , a property expert with the China Academy of Social Sciences, said the administrative measures would not be effective unless the central bank increased interest rates. Yuan Gangming , researcher at Tsinghua University's Centre of China in the World Economy, said the central government's policy was impractical. The government has tried to correct the housing market by requiring 70 per cent of new homes to be of less than 90 square metres.