NewChongqing reiterates price curbs to maintain policy consistency
Developers must detail their prices for each apartment unit, and have them listed in their marketing literature, according to policy published Sunday
Chongqing, the most populous metropolis in mainland China, has introduced a fresh slew of measures to curb rising residential property prices, a week after the departure of its mayor, as the local government sought to maintain consistency in policy and head off any speculation of a change in price policy.
The housing authority will ask developers to explain if prices are considered “unreasonable,” according to the policy.
The reiteration of Chongqing’s control policy is to maintain consistency with the central government’s push to curb runaway home prices and prevent housing affordability from spilling over into public discontent.
Chongqing’s new home prices rose 6.5 per cent in November from a year ago, compared with the 34.8 per cent surge in Shanghai, or the 42.8 per cent increase in Nanjing.