Different housing policies suggested

Different real estate policies should be adopted across the country as key cities have seen skyrocketing property prices while sales in smaller cities are still falling, CPPCC members suggested.

"There are already signs of overheating in the countries' key cities, and policymakers should take timely measures to ease people's discontentment over the skyrocketing prices," said Jia Kang, a member of the Chinese People's Political Consultative Conference National Committee and a former director of the Research Institute for Fiscal Science at the Ministry of Finance.

Home prices in Shenzhen have increased 72 percent in the past 12 months, according to the Urban Planning, Land and Resources Commission of Shenzhen Municipality. Shanghai and Beijing are following suit. The price of pre-owned homes in Beijing, for example, has jumped 10 to 30 percent after the Chinese Lunar New Year, industry insiders said.