Housing rumor refuted

Shenzhen authorities dismissed a rumor Wednesday about new local housing market measures, caixin.com reported Wednesday, citing an official from the Urban Planning Land and Resources Commission of Shenzhen.

The official said he knew nothing of any new measures. According to recent media reports, the Shenzhen land authorities had ordered that local housing prices must fall instead of rise, and any properties offered at higher prices cannot be sold without the approval of the local government.

Newly built houses with a total area of 4 million square meters were sold in Shenzhen last year, up 32.4 percent.