October 19, 2016 / 10:36 AM / 3 years ago

Beijing's property market stabilising after policy measures - housing bureau

BEIJING, Oct 19 (Reuters) - The property market in China’s capital city Beijing has stabilised following the implementation of the latest policy measures, the Beijing municipal commission of housing and urban-rural development said on Wednesday.

“The effects of housing policy measures are showing, market expectation are stabilising and buyer behaviour is more rational,” the housing agency said in a notice on its website, noting that property transactions and the number of people applying to buy properties have both fallen.

The bureau said it had beefed up inspection efforts especially after stricter restrictive measures on Sept. 30, and had so far inspected 30 property projects on sale and 52 property agencies.

Reporting by Yawen Chen and Nicholas Heath; Editing by Jacqueline Wong

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