Shanghai housing sales surge as new curbs feared

Homebuyers in Shanghai rushed to buy about 5,300 apartments since Friday, after news media widely reported on Thursday that the city's policymakers would consider realty price curbs with tightened measures.

Apartment transactions in Shanghai surpassed 1,000 units for three consecutive days since Saturday. The average before Friday was between 400 and 600 per day.

On Monday, Shanghai housing authorities said they were not considering making changes to current credit policy. They said they had noticed an increase in transactions but that on the whole the city's housing market was stable.