The Chinese government on Tuesday introduced further measures to put the brakes on a booming property market, this time targeting developer sales practices.
The Ministry of Housing and Urban-Rural Development ordered property developers not to accept payment for uncompleted homes without official approval.
In the event of an approval of a pre-sale transaction, developers must publish the full list of available properties and their prices, the ministry said.
The latest announcements come amid fears that an asset bubble is building up in China.
Last week, China's State Council stipulated a minimum 30% downpayment on purchase of first homes larger than 90 square metres, up from 20%, and raised the minimum downpayment on second homes to 50% from 40%.
The government had also announced that it was stepping up the introduction of tax policies to influence purchases and adjust property investment returns.
Chinese property prices jumped 11.7% in March compared to a year ago, which is the fastest rate of growth in nearly five years. It followed a 10.7% spike in prices in February.
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