CITY housing authorities denied a recent report that said the property purchase limit would be removed, Chinese-language media reported Tuesday.
The urban planning and land resources commission made the remarks Monday in response to a widely circulated report of the removal of the purchase limit introduced in early October.
The policy will be strictly implemented, said an unidentified commission official, the China Business News reported.
On Oct. 6, Shenzhen became the first city in China to cap the number of homes local residents can buy after the Central Government intensified efforts to curb property inflation.
The policy prohibits families with Shenzhen hukou from buying a third home and non-local taxpayers from buying any unit.
Property sales in the city fell sharply after the purchase limit was announced. According to Chinese-language reports, the number of new homes sold in 2010 dropped by about 55 percent compared to the previous year. However, new home prices had remained stable.
Property prices would surely skyrocket if the purchase limit was lifted, said Wang Feng, director of the city s property research center. (SD News)
