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Ministry: 'Houses are for living in'

China's top property market watchdog has urged local governments to stick to real estate market management goals and not loosen regulatory measures. The Ministry of Housing and Urban-Rural Development arranged talks on Wednesday with senior government officials from the cities of Chengdu and Taiyuan on property market regulation. Official data showed that both cities saw the prices of new and second-hand houses rise year-on-year in March. The ministry reiterated that "houses are for living in, not for speculation" and urged them to take specific measures to ensure stable and healthy development of the local property market.

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