Several smaller cities in China move to limit new home price drops as housing markets cool

china real estate sector

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While top Chinese cities step up real estate restrictions to curb home price growth, several smaller cities have moved to limit home price drops after transaction volume fell significantly amid a cooling market.

The city of Jiangyin in East China's Jiangsu province recently said that property developers are banned from dumping homes at low prices (lower than cost prices or with disguised price cuts) or resort to price wars, and meanwhile, selling prices of residential properties should not be higher than registered prices, according to a notice released by the local housing authority.

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