MoHURD: Government will maintain property measures

The Ministry of Housing and Urban-Rural Development (MoHURD) said on Monday that China will not relax property measures until home prices are controlled, Bloomberg reported, citing the China Securities Journal. Wang Juelin, deputy director of MoHURD’s policy research center, said most cities have been slow in issuing policies to curb local property markets and China also needs to increase the supply of homes. Wang was also cited as saying the government needs to maintain the stability of policies, thereby reducing expectations among buyers that property restrictions will be relaxed in the second half. Currently, many individuals have refrained from buying property because they expect measures to ease up later in the year.