Soaring housing market gets its wings clipped

Developers must start to publish the exact sales numbers of their housing projects as soon as they put projects on the market, the local government said as it made its first attempt this year to limit soaring property prices.

The change was among 11 items released by the municipal government yesterday as it moved to make housing more affordable and tackle price manipulation in the real estate market.

Other initiatives include a combination of financial incentives to restrict real estate developers' ability to manipulate housing prices and prevent short-term investors from trading in houses illegally.