Developers told property price curbs in Beijing won't let up  

(ECNS) -- Beijing has sent a clear and strong signal to property developers that its restrictive policies on housing prices won't change, the Guangdong-based 21st Century Business Herald reported.

The Beijing Municipal Commission of Housing and Urban-Rural development summoned 50 main property developers to a meeting on Tuesday afternoon and reaffirmed that the policies will not be eased in 2014.

An attendee said officials from the commission forbade any property hoarding among developers.

The commission approved a number of high-priced houses to enter the market at the beginning of this year, which was considered a sign of relaxing restrictions.

There have also been concerns about the soaring property prices in Baoding, a city 140 kilometers south of Beijing and 40 minutes away by bullet train, amid reports that the city will take over some of Beijing's administrative functions.

However, officials told developers not to have "fantasies" of lifting curbs, according to a person who attended.

Beijing's red-hot second-hand property market has been showing signs of cooling down, with more sellers but fewer transactions, a trend rarely seen in the past five years.

Zhang Dawei, chief analyst with property agency Centaline, said the breaking point of a property market always comes to down to the second-hand market firstly.